Ben Holzer

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Ben Holzer

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2019-2020 Technology Editor, 2020 Senior Editor, 2018-19 Contributor

Ben is a third-year student at the University of Denver, Sturm College of Law. He was born and raised in Littleton, Colorado and attended the University of Colorado Boulder, where he received his Bachelor of Arts in Philosophy. Prior to attending law school, Ben worked for 3 years as a patent annuities specialist for Sheridan Ross, P.C. in Denver.

In addition to contributing to The Race to the Bottom, Ben is currently seeking the Corporate and Commercial Law Certificate at the University of Denver and is working with the corporate team at Fortis Law Partners LLC in Denver. In the summer semester following his first year in law school as well as the spring semester of 2019, Ben worked as an in-house intern for TTEC Holdings, Inc., a leading global customer experience technology and services company.

Ben’s legal areas of interest include corporate, securities, and trademark law. Outside of law school, Ben enjoys soccer, travel, and discovering new restaurants in Denver.

Connect with Ben on LinkedIn.

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Student and Faculty Blog of University of Denver Sturm College of Law
Jumio Inc. Founder Daniel Mattes Charged with Defrauding Investors

On April 2, 2019 the founder and former Chief Executive Officer of Jumio Inc., Daniel Mattes, agreed to settle with the Securities Exchange Commission (SEC) for more than $17 million for defrauding investors. (Govind, Bloomberg). According to the SEC, Mattes “grossly overstated” Jumio’s 2013 and 2014 revenues before selling his personal shares to private investors. (Press Release, SEC). Mattes’ settlement with the SEC followed shortly after another SEC settlement with Jumio’s former Chief Financial Officer, Chad Starkey. Starkey also settled charges for failing to exercise reasonable care concerning the company’s financial statements and signing stock transfer agreements that falsely implied Jumio’s board of directors had agreed to Mattes’ sale of his private shares. Id. After Mattes’ shares were sold, Jumio restated its financial results in 2015, which showed depleted revenues and led to the company filing for bankruptcy. (Govind, Bloomberg).

Increasing GDPR Concerns Cause M&A Transactions to Stall or Collapse Entirely

On May 25, 2018, the European Union (EU) began the enforcement of the General Data Protection Regulation (GDPR) with the aim of protecting all citizens residing within the EU from privacy and data breaches. (GDPR Key Changes, GDPR.org). Approximately 40% of acquiring companies that engage in merger and acquisition transactions discover cybersecurity issues in their newly-acquired entities, and companies are starting to become wearier of acquisition transactions due to the expensive repercussions of non-compliance with GDPR rules. (Harroch, Forbes). Approximately $1.3 trillion of deals have failed with 900 transactions being terminated or withdrawn due to GDPR concerns, despite 2018 being a notable year overall for mergers and acquisitions. (Thomson, Bloomberg Law).

Best Buy's Acquisition of Health Tech Startup Jitterbug May Trigger HSR Concerns

On August 15, 2018, Best Buy Co., Inc. (Best Buy) announced that it signed a definitive agreement to acquire GreatCall Inc. (“GreatCall”) for $800 million as part of its growing business selling health and wellness products specifically focused on the aging population. (Investor Relations, Best Buy). GreatCall is the maker of the senior focused Jitterbug cell phones along with other devices designed to allow elderly consumers to connect with caregivers and to facilitate communication with emergency services. (Barba, Wall Street Journal). The acquisition is projected to be neutral to Best Buy’s adjusted earnings in 2019 and 2020 as well as to increase its adjusted earnings by 2021. (Investor Relations, Best Buy). The acquisition is part of Best Buy’s 2020 strategy to use technology to address key human needs among the aging U.S. population. (Barba, Wall Street Journal). GreatCall headquarters will remain in San Diego and David Inns will remain as the company’s CEO. (Press Release, Market Watch).