Law360, New York (February 05, 2010, 2:17 PM ET) -- The U.S. Securities and Exchange Commission's suit accusing U.S. Sustainable Energy Corp. and its founder of perpetrating a pump-and-dump scheme will move forward, after the judge overseeing the case lifted a stay because settlement talks didn't bear fruit.
On Thursday, Magistrate Judge John M. Roper of the U.S. District Court for the Southern District of Mississippi granted a motion from the SEC seeking to have the stay lifted and allow discovery to resume.
The case was frozen in November, after the parties submitted a joint motion...
SEC Suit V. USSE Back On After Failed Settlement
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