Description
The SEC sues AirFox for violating Sections 5(a) and 5(c) of the Securities Act by offering and selling unregistered AirTokens, raising approximately $15 million in capital for the purpose of creating and capitalizing a new, international business and ecosystem.
Legal Significance
AirTokens are alleged to satisfy all of the elements of investment contracts under Howey.
Issues
Status
Cease-and-Desist
Case No.
File No. 3-18898
Date Filed
November 16, 2018
Plaintiff
SEC
Defendant
CarrierEQ Inc. d/b/a AirFox
Court
-
Plaintiff Counsel
-
Defendant Counsel
-
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