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Judge Snubs SEC Again In Favor Of Merchant Capital

Law360 (June 12, 2008, 12:00 AM EDT) -- In a suit remanded by an appeals court, a federal judge again rebuffed the U.S. Securities and Exchange Commission Tuesday, dismissing the agency's claims against Merchant Capital LLC and refusing to impose penalties on the grounds that the principals of the debt-purchasing business had acted in good faith.

Judge Martin H. Shoob of the U.S. District Court for the Northern District of Georgia reconsidered his earlier dismissal at the behest of the U.S. Court of Appeals for the Eleventh Circuit, but again denied the SEC's request...
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