Stoner Cats 2, LLC, the organization that created the NFTs and is responsible for paying the SEC fine, will also have to help set up a reimbursement fund to pay back injured investors. This “Fair Fund,” a type of account established under the Sarbanes-Oxley Act of 2002 as a way to return profits from defrauded investors, will technically be operated by the SEC. (It’s important to note Stoner Cats 2, LLC, did not admit fault by settling.)
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- Source: https://www.coindesk.com/consensus-magazine/2023/09/14/the-inanity-of-the-sec-stoner-cat-action/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
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