11 results for 'cat:"Securities" AND cat:"Injunction"'.
J. Wilson grants the SEC's motion for monetary remedies and injunctive relief for its complaint that the company owner engaged in a fraudulent investment scheme by hiding his criminal history from investors, combining personal and investment funds, misrepresenting his returns, and buying property with investment funds. The SEC shows that the company owner is likely to commit fraud in the future, because he defrauded multiple investors over several years and there is evidence that he is still soliciting victims during this case.
Court: USDC Central District of California, Judge: Wilson, Filed On: February 23, 2024, Case #: 8:19cv1174, NOS: Securities/Commodities/Exchange - Other Suits, Categories: Fraud, securities, injunction
J. Hurson denies a financial company’s motion for a preliminary injunction and motion for a hearing on the preliminary injunction in this Securities Exchange Act case stemming from a husband-and-wife corporation. The financial company seeks a preliminary injunction from making false or misleading statements and to enjoin the husband-and-wife corporation from violating security laws. The husband is also a board member of the financial company, he set out for a takeover of the company to benefit him and his wife’s corporation by solicitating proxies for elections of directors. A motion for reconsideration of the injunction may be appropriate after the outcome of the circuit court hearing.
Court: USDC Maryland, Judge: Hurson, Filed On: January 26, 2024, Case #: 1:23cv2720, NOS: Securities/Commodities/Exchange - Other Suits, Categories: Elections, securities, injunction
J. Carney grants the Securities and Exchange Commission a preliminary injunction, including court-ordered preservation of evidence and an asset freeze, for its lawsuit alleging that the sham investment institution and others engaged in an ongoing Ponzi-like scheme that raised over $2.2 million from about 168 investors. The injunction is appropriate because the sham investment institution and others are likely to repeat their violations due to their persistent fraudulent conduct months after they received the SEC's cease-and-desist letter.
Court: USDC Central District of California, Judge: Carney, Filed On: October 30, 2023, Case #: 8:23cv1807, NOS: Securities/Commodities/Exchange - Other Suits, Categories: securities, injunction
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J. Duncan remands this case for the district court to enter a preliminary injunction while it considers the investors' challenge to the Commodity Futures Trading Commission's rescission of its “no-action letter,” which allowed the online political futures market to operate without registering under federal law. The CFTC’s rescission of the no-action letter was an abrupt change, and likely arbitrary and capricious. Reversed and remanded.
Court: 5th Circuit, Judge: Duncan , Filed On: July 21, 2023, Case #: 22-51124, Categories: securities, Agency, injunction
J. Barbadoro grants an injunction and $111,614 civil penalty against a user-owned digital content platform for offering unregistered crypto asset securities in violation of Section Five of the Securities Act. The platform continued to offer these unregistered securities even after the lawsuit against them was filed and it was clear that the SEC required that they register, which demonstrates a risk of future offending and makes the offenses that have occurred more serious than merely failing to register.
Court: USDC New Hampshire, Judge: Barbadoro, Filed On: July 11, 2023, Case #: 1:21cv260, NOS: Securities/Commodities/Exchange - Other Suits, Categories: securities, injunction
J. Graves finds the district court improperly entered an order appointing a receiver over all corporations and entities controlled by the real estate developer who partnered with a Chinese broker to offer and sell investment loans to Chinese investors. Approximately $23.7 million in investor funds were comingled and misused before the SEC filed suit. Under guiding case law, the SEC could have sought an injunction freezing asset transfers while it traced the funds and determined which entities should be placed in the receivership, which it did not. Vacated.
Court: 5th Circuit, Judge: Graves , Filed On: June 28, 2023, Case #: 22-11132, Categories: Real Estate, securities, injunction
J. Bastian grants a motion for an injunction against the ranch co-owner for defrauding Tyson Fresh Meats of $233 million in fabricated invoices for reimbursement for cattle and feed. The ranch co-owner is permanently restrained, enjoined and prohibited from trading on or being subject to the rules of any registered entity, entering transactions involving "commodity interests" and other restrictions.
Court: USDC Eastern District of Washington, Judge: Bastian, Filed On: June 5, 2023, Case #: 4:21cv5050, NOS: Securities/Commodities/Exchange - Other Suits, Categories: Fraud, securities, injunction