A dispute over unpaid attorneys’ fees has emerged after shareholders successfully prompted the recovery of short swing trading profits from a major insider at a media company whose stock is publicly traded. The complaint was filed by Calenture, LLC and Mark Rubenstein in the United States District Court for the Eastern District of New York on May 19, 2026, naming Crisp Momentum Inc., also known as Open Locker Holdings, Inc., as the defendant.
According to court documents, Calenture, LLC and Mark Rubenstein are shareholders of Crisp Momentum Inc., a Delaware-based media company specializing in short form scripted video content with its headquarters in New York. The plaintiffs allege that they engaged legal counsel to investigate potential violations of Section 16(b) of the Securities Exchange Act by Jakota Capital AG, identified as a greater than ten percent shareholder and statutory insider of Crisp Momentum.
The complaint outlines that on June 5, 2025, Jakota Capital AG reported significant purchases of Crisp Momentum’s common stock—specifically, more than 100 million shares bought at $0.001 per share—from two entities: Her Clique Inc. and IndexAtlas AG. Later that year, on October 3, 2025, Jakota reported selling one billion shares in privately negotiated transactions at prices between $0.0055 and $0.006 per share.
Plaintiffs’ counsel sent demand letters to Crisp Momentum around October 5, 2025, calculating Jakota’s liability under Section 16(b) at approximately $502,355 and requesting that the company recover these short swing profits as required by law. The complaint states that on November 25, 2025, counsel for Crisp Momentum confirmed that Jakota had disgorged $498,984 in short swing profits to the company just days earlier.
The plaintiffs assert that their legal work—performed on a contingency basis—included investigating insider transactions in company securities; determining whether any such transactions violated Section 16(b); calculating profits realized by insiders; making statutory demands for recovery; preparing necessary legal documents; and providing information needed for prosecution or potential litigation if required. They argue that these efforts directly resulted in the company’s successful recovery of nearly half a million dollars from Jakota.
As compensation for these services rendered to benefit both Crisp Momentum and its shareholders (including themselves), plaintiffs seek payment of attorneys’ fees under Section 16(b). They report having requested from Crisp Momentum a fee of $125,000—representing roughly twenty-five percent of the total benefit received by the company through their counsel’s actions.
The complaint emphasizes that "Plaintiffs seek no personal benefit but brings this action to recover the expenses contingently incurred in an amount of the reasonable value of the legal services rendered by their counsel and solely for the purpose of paying for those services." It further alleges that by accepting both the legal services provided and subsequently collecting additional disgorgement funds calculated by plaintiffs’ counsel from Jakota Capital AG, Crisp Momentum ratified their right to compensation under federal securities law.
In addition to payment for past services totaling $125,000 (inclusive of out-of-pocket costs), plaintiffs request any other relief deemed appropriate by the court. The case is being handled by attorneys Miriam Tauber (Miriam Tauber Law PLLC) and James A. Hunter (Law Office of James A. Hunter). The case number is 1:26-cv-02981.
Source: 126cv02981_Calenture_LLC_v_Crisp_Momentum_Inc_Complaint_Eastern_District_New_York.pdf