Posted 1/30/2024, 8:56:00 PM
SEC Seeks to Dismiss Lawsuit Against Crypto Firm, But Defendants Push for Harsher Sanctions
- SEC seeks to dismiss lawsuit against crypto firm DEBT Box to avoid potential sanctions from federal judge
- Judge concerned SEC made "materially false statements" to freeze assets and accused lawyers of undermining case integrity
- SEC lawyers admit to missteps, promise staff training, but seek to avoid sanctions
- DEBT Box defendants push back, say SEC "knew it lied" and caused "enormous damage", seek case dismissal with prejudice
- SEC agrees to dismiss case without prejudice, meaning charges could be brought again, argues against repaying defendants