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11th Circ. Undoes $85M Asset Freeze In Fake Gov't Site Suit

By Morgan Conley (November 4, 2021, 8:59 PM EDT) -- The Eleventh Circuit on Thursday lifted a receivership and asset freeze barring investment firm Dragon Global from touching roughly $85 million in assets, finding the lower court's decision doesn't hold up under a U.S. Supreme Court ruling in April that gutted the Federal Trade Commission's power to collect restitution.

In a published opinion, a unanimous panel said that the Supreme Court's decision in AMG Capital Management et al. v. FTC, which was reached while the appeal was pending, leaves "the asset freeze and receivership aspects of the preliminary injunction unsupported by law." In AMG Capital, the justices sharply curbed the FTC's ability to collect...

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