Vinco Ventures’ Unraveling After Failed National Enquirer Acquisition

Compounding the situation, a group of Vinco Ventures retail investors have brought a number of legal suits in Nevada against Farnsworth and other Vinco Ventures executives, led by Vick.

They allege, among other charges, that Farnsworth and Vinco Ventures have engaged in self-dealing and self-enrichment, diversion of assets and unlawful funding transactions.

“[Farnsworth] took the company down to zero while pocketing the profits,” Vick said. “The SEC caught wind of [MoviePass], and shareholders caught wind of this one. I think that there is still a chance that we could still wind this company back up.”