FOR IMMEDIATE RELEASE
BBIGFAMILY.COM ANNOUNCES FILING OF FEDERAL LAWSUIT AGAINST TOXIC LENDERS IN DEFENSE OF VINCO VENTURES SHAREHOLDERS
New York, January 21, 2024 - bbigfamily.com, representing close to 3,000 shareholders of Vinco Ventures, Inc. (OTCM: BBIG) ("VINCO"), is proud to announce the filing of a significant federal lawsuit against toxic lenders, seeking rescissionary damages in excess of $250 million. This action, led by Shadwrick Vick on behalf of VINCO shareholders, alleges that Hudson Bay Master Fund Ltd., Sander R. Gerber, Yoav Roth, BHP Capital NY, Inc., and Bryan Pantofel, have engaged in predatory lending practices in violation of federal securities law.
The lawsuit, filed in the United States District Court for the Southern District of New York, accuses the defendants have violated Section 15(a) of the Securities Exchange Act of 1934 by failing to register as "dealers," despite engaging of the practice of buying and selling securities for their own benefit. Defendants practices are demonstrated by the fact that they have made similar unlawful, predatory loans to publicly traded companies, including VINCO, that caused the issuance of millions, if not billions, of newly-issued shares to the to the company and its shareholders.
Shadwrick Vick, supported by the invaluable contributions of Christopher Muntz, many shareholders and the securities litigation attorneys at The Basile Law Firm P.C. (www.thebasilelawfirm.com), has spearheaded this initiative. Christopher Muntz, a critical team player, played a pivotal role in analyzing lender transactions, providing essential information that formed the backbone of the case. "Working alongside the bbigfamily.com community has been an incredibly rewarding experience," said Christopher Muntz. "Their passion and commitment to seeking justice have been the driving force behind our efforts. I am honored to be part of this community and to contribute to our shared goal of accountability and transparency."
The lawsuit is a testament to the relentless efforts and dedication of the bbigfamily.com community, whose members have generously donated time and resources to make this legal action possible. "This lawsuit is not just a legal battle; it's a fight for justice for countless shareholders who have lost hard-earned money while trying to invest for their families' futures," said Mr. Vick. "We stand united in our quest to hold those responsible for this financial devastation accountable."
This federal lawsuit is not directly related to the ongoing legal battle in the 8th Judicial Court of Nevada against the board and other parties involved with VINCO. The shareholder efforts however, aim to hold accountable those responsible for the alleged financial mismanagement and misconduct that led to VINCO's stock and company meltdown. During the Vegas suit the ticker was delisted from NASDAQ to OTC.
"We are immensely grateful to our community members for their unwavering support and contributions," stated Mr. Vick. "This lawsuit is a crucial step in our ongoing fight for justice and accountability. We hope this action will bring exposure to those who can offer support and aid in our cause, recognizing the significance of retail investor advocacy."
For more information on this matter, please visit BBIGFamily.com.
A link to the Docket Filing of the complaint can be found here.