The SEC says case dismissal without prejudice is “normally granted” when a plaintiff requests it, but the court has criticized the agency’s current suit.
Two SEC Lawyers Resign Following Debt Box Sanctions Fiasco: Bloomberg
Two lawyers for the U.S. Securities and Exchange Commission (SEC) were forced to resign after a federal judge sanctioned the agency last month for committing a “gross abuse of power” while attempting to secure a temporary restraining order against Utah-based crypto company Debt Box, according to a Monday report from Bloomberg.
DEBT Box urges judge to toss suit as SEC got case ‘badly wrong’
The SEC initially misled a court to freeze DEBT Box’s assets, which has since been reversed, and the firm cited the incident as grounds to dismiss the suit.
SEC freezes assets of DEBT Box, alleging $50M node license ‘sham’
Blockchain mining software firm DEBT Box has been accused of lying to investors about its involvement in crypto mining and its “node licenses.”