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Robinhood ordered to pay $70M for negligence and misleading info

On Wednesday, the Financial Industry Regulatory Authority (“FINRA”) levied its largest fine ever against popular investing app Robinhood. Robinhood, known for letting customers trade stocks through an app, will pay $57 million in fines in addition to $12.6 million in restitution to customers.  FINRA is a nonprofit, self-regulatory agency that oversees member brokerages and exchanges.

FINRA found that Robinhood violated regulations and showed false and misleading information to customers. Some customers were allowed to place trades with borrowed money, even though they’d turned off that setting in the app, according to FINRA. Others saw inaccurate negative cash balances. Robinhood also failed to report a variety of customer complaints to FINRA, and suffered a number of outages from 2018 through 2021 that caused customer losses, most prominently during the GameStop stock surge. FINRA determined that the outages and system failures were partially due to the lack of a proper continuity plan.

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News Daypop

Bill Cosby is released from prison after Pennsylvania high court overturns sex assault conviction

Pennsylvania’s highest court overturned Bill Cosby’s sex assault conviction Wednesday, after finding an agreement with a previous prosecutor prevented him from being charged in the case. According to the Pennsylvania Department of Corrections, Cosby was released from prison on Wednesday afternoon, after serving more than two years of a three- to 10-year sentence at a state prison near Philadelphia. He had vowed to serve all 10 years rather than acknowledge any remorse over the 2004 encounter with accuser Andrea Constand.

In a statement Wednesday afternoon, District Attorney Kevin R. Steele said, “The majority decision by the Pennsylvania Supreme Court orders the release of William H. Cosby Jr. from state prison. He was found guilty by a jury and now goes free on a procedural issue that is irrelevant to the facts of the crime.”  The 83-year-old Cosby was convicted of drugging and molesting Constand at his suburban estate. The trial judge had allowed just one other accuser to testify at Cosby’s first trial, when the jury deadlocked. However, he then allowed five other accusers to testify at the retrial about their experiences with Cosby in the 1980s. The Pennsylvania Supreme Court said that testimony tainted the trial, even though a lower appeals court had found it appropriate to show a signature pattern of drugging and molesting women.

In May, Cosby was denied paroled after refusing to participate in sex offender programs during his nearly three years in state prison. He was adamant that he would resist any treatment programs and refuse to acknowledge wrongdoing even if it meant serving the full 10-year sentence.

Editorial credit: Michael Candelori / Shutterstock.com

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Country Daypop

Cody Johnson put on three-week vocal rest

Cody Johnson has been forced to take a brief, three-week break due to being put on vocal rest. He recently addressed his “CoJo Nation” fanbase with a message on social media: “Coming off of the road after an incredible weekend to some not so exciting news. Unfortunately, my ENT Dr. of over 8 years has put me on vocal rest for the next three weeks. God willing, this will be an isolated incident, and as of right now, there is no concern about long-term damage. However, I would appreciate y’all keeping me in your prayers for a safe and speedy recovery. I can’t wait to get back out there doing what I love. Thank you for understanding during this difficult time.”

Johnson sold-out his recent two-night stint at Nashville’s Ryman Auditorium, and last weekend he played Fort Worth, Texas, and Oklahoma City, Oklahoma. In addition to sold-out shows, Johnson has previously said he is working on a double-album to release later this year.

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Country Daypop

Morgan Evans releases his latest single “Love is Real”

Morgan Evans is back with new music for the first time since 2019 with “Love Is Real.” released June 24. “Love Is Real” follows Evans’ previous singles including 2018’s “Day Drunk” and his 2017 hit single, “Kiss Somebody.”

Upon releasing the single, Evans shared a note with fans on social media, thanking them for their patience in their wait for new music:  “I can’t say thank you enough for your patience over this last year,” wrote Evans. “I know it’s been a weird one for us all in so many ways. Not playing shows for you guys and not releasing any music, among other things, really crushed my spirit but things feel like they’re turning around now and I know, for me, this new music is a huge part of that. I hope this song finds you where you are and fills you with all the good vibes we put into it!”

Evans also released a lyric video, with the lyrics overlaying a video of a a car racing down a mountain road. Evans will perform “Love Is Real” live when he joins Brett Eldredge on his Good Day Tour, kicking off September 16 in Cleveland, Ohio.

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Entertainment Daypop

Actor Allison Mack sentenced to 3 years in prison in NXIVM sex-slave case

Actor Allison Mack, 38, was sentenced to 3 years in prison Wednesday after pleading guilty to charges she manipulated women into becoming sex slaves for NXIVM’s leader, Keith Ranier.  NXIVM was a cult group that masqueraded itself as a self-help organization. Mack also received a $20,000 fine.

Mack – best known for her role on the series “Smallville” – appeared in Brooklyn federal court, seeking credit for cooperating against Raniere and taking responsibility for helping him create a secret society of brainwashed women who were branded with his initials. Mack wrote in a letter filed with the court last week that devoting herself to Raniere “was the biggest mistake and greatest regret of my life.  I am sorry to those of you that I brought into NXIVM. I am sorry I ever exposed you to the nefarious and emotionally abusive schemes of a twisted man.”  Mack was once part of the inner circle of Raniere, whose group attracted millionaires and actors among its adherents. Prosecutors said she became a “master” for “slaves” whom she ordered “to perform labor, take nude photographs, and in some cases, to engage in sex acts with Raniere.”

Mack provided information to prosecutors about how Raniere encouraged “the use of demeaning and derogatory language, including racial slurs, to humiliate ‘slaves,’” the government papers said. More importantly, she provided a recording of a conversation she had with Raniere about the branding. Raniere was sentenced last year to 120 years in prison for his conviction on sex-trafficking charges.

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Entertainment Daypop

Bill Cosby released from prison after sexual assault conviction is overturned

Pennsylvania’s highest court overturned Bill Cosby’s sex assault conviction Wednesday, after finding an agreement with a previous prosecutor prevented him from being charged in the case. According to the Pennsylvania Department of Corrections, Cosby was released from prison on Wednesday afternoon, after serving more than two years of a three- to 10-year sentence at a state prison near Philadelphia. He had vowed to serve all 10 years rather than acknowledge any remorse over the 2004 encounter with accuser Andrea Constand.

In a statement Wednesday afternoon, District Attorney Kevin R. Steele said, “The majority decision by the Pennsylvania Supreme Court orders the release of William H. Cosby Jr. from state prison. He was found guilty by a jury and now goes free on a procedural issue that is irrelevant to the facts of the crime.”  The 83-year-old Cosby was convicted of drugging and molesting Constand at his suburban estate. The trial judge had allowed just one other accuser to testify at Cosby’s first trial, when the jury deadlocked. However, he then allowed five other accusers to testify at the retrial about their experiences with Cosby in the 1980s. The Pennsylvania Supreme Court said that testimony tainted the trial, even though a lower appeals court had found it appropriate to show a signature pattern of drugging and molesting women.

In May, Cosby was denied paroled after refusing to participate in sex offender programs during his nearly three years in state prison. He was adamant that he would resist any treatment programs and refuse to acknowledge wrongdoing even if it meant serving the full 10-year sentence.

Editorial credit: Michael Candelori / Shutterstock.com