Punch TV Studios Takes Legal Action Against SEC Allegations
- Punch TV Studios has hired legal representation to counter the SEC's alleged attempts to undermine the company.
- CEO Joseph Collins, Jr. claims the SEC's actions are counterproductive to the goals set by President Obama with the JOBS Act.
- The ongoing legal battle raises concerns about the implications for small businesses looking for regulatory support.
Los Angeles, CA – Punch TV Studios has announced its decision to engage the non-profit organization Investor Choice Advocates Network (ICAN) and the global law firm Baker & McKenzie International to represent the company in an ongoing legal battle with the Securities and Exchange Commission (SEC). CEO Joseph Collins, Jr. has accused the SEC of systematically attempting to undermine the company’s financial stability and operations, claiming that their actions contradict the intentions of the JOBS Act, which was signed into law by President Obama in 2017. The lawsuit against Punch TV Studios stems from the SEC's allegations filed in 2021, which Collins argues are rooted in a misunderstanding of the JOBS Act, a program designed to facilitate capital raising for small businesses. He contends that the SEC has not only defamed him but has also misinterpreted the act's provisions, leading to detrimental consequences for the company. Collins emphasized that the SEC's actions threaten the very vision of the JOBS Act, which aimed to empower entrepreneurs and small investors. Punch TV Studios expresses confidence in its new legal representation, believing that ICAN and Baker & McKenzie will effectively defend against the SEC's claims. The company aims to continue delivering quality content to its audience while navigating the complexities of the legal challenges it faces. With Baker & McKenzie’s extensive experience in legal matters, Punch TV Studios hopes to secure a favorable outcome in this high-stakes case.