SEC Again Seeks Default Ruling In Penny Stock Suit

Law360, New York (February 17, 2011, 2:29 PM EST) -- The U.S. Securities and Exchange Commission has asked a federal judge to reconsider a denial of the agency's request for default judgment against a fugitive allegedly involved in a penny stock pump-and-dump scheme.

In a motion Wednesday in the U.S. District Court for the Northern District of Oklahoma, the SEC suggested Judge Claire V. Eagan might have missed an important detail when she determined that the agency had not gone to sufficient lengths to serve Dean Joseph Sheptycki with its civil complaint.

The SEC argued it...
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