| StaightPath
Loses TRO Fight To SEC Which It Quotes On
Referral For Criminal Case
By Matthew
Russell Lee, Patreon Maxwell
Book
BBC-Guardian
UK - Honduras
- ESPN
NY
Mag
SDNY COURTHOUSE,
May 13 – The SEC
moved quickly against
StraightPath Venture Partners
LLC on May 13, winning a
temporary restraining order
even as StraightPath's lawyer
said the SEC threatened to
refer the matter for criminal
prosecution.
Inner City Press
live tweeted the oral argument
before U.S. District Court for
the Southern District of New
York Judge Lewis A. Kaplan, here
(more on Patreon here)
SEC is moving to
freeze the assets of
StraightPath Venture Partners
which, represented by Cahill
Gordon, is arguing against it
Cahill Gordon's
Enzer: There is no proof of
loss. The SEC is running into
court with an incomplete
picture of the financial
records --
Judge Kaplan:
You've already made this
point. Cahill: The SEC tells
us they've gotten DOJ to open
a criminal investigation [!]
Cahill's Enzer:
If the SEC freezes their
assets they can't hire counsel
of their choice [us?] for any
criminal action...
SEC lawyer:
Investors should not bear the
risk of them using money they
took out for personal use. The
shortfall, we are alleging
that the defendants sold
interests in pre-IPO shares
that they didn't have and
don't today have
SEC lawyer: As to
DOJ, we only reached out to
them. Our focus is the
protection of investors.
Judge Kaplan:
Let's talk about schedule. Mr.
Enzer wants to brief, fine,
until May 20. Reply May 25. I
will enter a TRO.
More on Patreon
here.
The case is SEC
v. Staightpath Venture
Partners, LCC et al.,
22-cv-3897 (Kaplan)
***
Your support means a lot. As little as $5 a
month helps keep us going and grants you
access to exclusive bonus material on our
Patreon page. Click
here to become a patron.
Feedback:
Editorial [at] innercitypress.com
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA
Mail: Box 20047, Dag
Hammarskjold Station NY NY 10017
Reporter's mobile (and weekends):
718-716-3540
Other, earlier Inner City Press are
listed here,
and some are available in the ProQuest
service, and now on Lexis-Nexis.
Copyright 2006-2022 Inner City
Press, Inc. To request reprint or other
permission, e-contact Editorial [at]
innercitypress.com
|
,
