Were There Any Significant Reasons Why Vinco Ventures (BBIG) Stock Surged Today?

Following an announcement of a settlement agreement, Vinco Ventures Inc. (BBIG) has risen in price today, up 3.90% to trade at $1.01. BBIG closed at $0.98 the previous trading day.

Who has settled with BBIG?

An agreement was reached on September 28, 2022, between Vinco Ventures (BBIG) and its Nevada lawsuits. In accordance with the agreement, Ross Miller has been named CEO of BBIG, to oversee the company under the oversight of Vinco Ventures. Gabe Hunterton has been appointed President of the company as well.

As a result of John Colucci, Michael Distasio, and Elliot Goldstein’s resignations, two new independent directors, Brian Hart and Jesse Law, will join the Board of Directors. The lawsuit was settled with John Colucci, former Co-CEO and Independent Director, and Philip Jones, former CFO, resigning from their positions at the Company and terminating all ties to BBIG.

Directors’ profiles

  • In addition to serving as a County Commissioner for Clark County, Nevada District C, Ross Miller was previously the Deputy District Attorney, who prosecuted major criminals in Clark County. During his eight years as Secretary of State, he was the youngest ever in Nevada history.
  • As a leader in multiple spaces, Gabe Hunterton has extensive experience in gaming and gaming technology. His most recent position was as President of City of Dreams Macau, Melco’s flagship casino. As the Deputy Chief Operating Officer of Galaxy Macau, Hunterton managed the largest casino in the world.
  • Hart Communications was founded by Brian Hart, who has over 25 years of experience in technology, communication, and policy. In addition to serving as senior staff for a federal agency, he has worked for three U.S. senators, publicly traded companies, and global consulting firms. Additionally, he served on the board of directors of an Austin-based privately held EMC testing and equipment company that is now a part of ESCO Technologies.
  • An accomplished executive with 17 years of experience, Jesse Law has worked in bipartisan political and public policy operations for 13 years and in banking and finance for 14.

What BBIG is up to now?

As a result of the settlement agreement and litigation, Vinco Ventures (BBIG) leadership team is working aggressively to finish its quarterly filings and to work closely with Zash and ZVV management teams to ensure that the merger is completed as quickly as possible. In addition to upcoming business initiatives, BBIG is dedicated to creating value for its shareholders and providing transparency. With the right platforms, technologies, and people, Vinco Ventures is now ready to move ahead.