Rochester, NY, July 25, 2022 (GLOBE NEWSWIRE) — On July 24, 2022, the Board of Directors (the “Board”) of Vinco Ventures, Inc. (Nasdaq: BBIG) (“Vinco Ventures,” “Vinco,” or the “Company”), a digital media and content technologies holding company, among other things, terminated Theodore Farnsworth, the former CEO of Helios and Matheson Analytics and Chairman of MoviePass, as the Company’s Co-CEO less than 72 hours after he was appointed, Lisa King as the President of ZVV Media Partners, LLC and former CEO of the Company, Erik Noble as the Company’s Chief Security Officer and any other role, and any and all arrangements between the Company and Roderick Vanderbilt, including as business development director and Chairman of the Board (Mr. Farnsworth, Ms. King, Mr. Noble and Mr. Vanderbilt referred to collectively as the “Farnsworth Group”). Ms. King and Mr. Vanderbilt still remain members of the Board despite having their roles with the Company terminated.
On July 14, 2022, Ms. King authorized the filing of a Current Report on Form 8-K that incorrectly stated Mr. Farnsworth had been appointed as the Company’s Co-CEO despite being advised that the information contained in the Form 8-K was incorrect and based on an invalid Board meeting (the “First Incorrect 8-K”). The Company attempted to file a Current Report on Form 8-K by the end of the day on July 14, 2022 to correct the First Incorrect 8-K, but this attempted Securities and…
