LOS ANGELES, CA / ACCESSWIRE / November 15, 2021 / Punch TV Studios today responded to the civil rights violations perpetrated against the Company and its founder and chief executive officer Joseph Collins, with the false and egregious public notice released by the U.S. Securities and Exchange Commission dated September 30, 2021.
The following are key spotlights related to the untrue allegations presented:
The company contends the U.S. Securities and Exchange Commission has filed an action against founder Joseph Collins and Punch TV Studios. The company also contends the U.S. Securities and Exchange Commission violated Joseph Collins' civil right to due process under the Constitution of the United States amendments 5 and 14, by releasing such a statement defaming him as recidivist.
"I have never been convicted, nor charged, with a crime in my life. For the US Securities Exchange Commission to state, in writing, that I am a convicted criminal who reoffends is outrageous, disgraceful, and abhorrent. Our company has more than 11,000 stockholders that are directly from the urban community, 99.5% of whom are in full support of the direction of the company. We are believed to have the largest base of independent investors in America" says Punch TV Studios founder and chief executive officer Joseph Collins.
The U.S. Securities and Exchange Commission knowingly and willfully released this false information to the public, causing a drastic adverse effect on Joseph Collins and his ability to subsist into the foreseeable future. It has long term and lasting implications against Joseph Collins and Punch TV Studios is castigatory in nature. Such egregious behavior by the U.S. Securities and Exchange Commission reflects direct malfeasance, which restricts the company from obtaining a fair and impartial jury, forfeits contracts from vendors, and denied additional operating capital.
Instead of punishing Joseph Collins, the first African American to raise capital under the JOBS ACT, the U.S. Securities and Exchange Commission has a duty to engage in discussions, education, and collaboration with Collins and Punch TV Studios to determine how the Office of Investor Advocacy and Education can encourage and support African American participation in capital markets.
The U.S. Securities and Exchange Commission's "regulation by enforcement" approach has had a negative impact on African Americans in general. The overwhelming majority of public companies or their officers and directors are not African Americans. The overwhelming majority of officers, senior and executive staff of the U.S. Securities and Exchange Commission are also not African Americans. The intent of the JOBS Act was to provide startups, such as Punch TV Studios, the ability to obtain capital by featuring relatively low dollar investments by the "crowd." Their enforcement action against the Company and Joseph Collins would confirm that African Americans have no place in the capital markets of the United States and that the JOBS Act was unsuccessful, defeating its intended purpose.
"I received a Lifetime Achievement Award from the Black Chamber of Commerce and the 44th President Barack Obama. This case is truly not about me. The US SEC wants you to focus on me. They want to make you think I am this criminal, which I am not, so that you do not understand the ramifications behind the case. This case is about President Obama and Joe Biden's JOBS Act of 2012 and giving the disenfranchised access to capital markets. Punch TV Studios was successfully able to raise capital through our primarily African American investor base and create over 150 new jobs. The US SEC does not want that to happen ever again. That is why the SEC is persecuting us."
The resources required for the entire litigation process has affected Punch TV Studios' ability to operate and grow, which unfortunately uncovers the truer intent of U.S. SEC.
Make a donation today to The Punch Foundation Legal Fund to help defend Punch TV Studios and companies that have been unfairly targeted at: https://www.PunchTVStudios.com
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SOURCE: Urban Television Network