Analysis

Texas AG's Win Over SEC Raises Doubts About Criminal Case​

Law360, Dallas (March 6, 2017, 9:02 PM EST) -- The toss of a civil securities fraud suit against Texas Attorney General Ken Paxton could signal trouble for prosecutors pursuing related criminal charges, who face a higher burden to prove that Paxton should have disclosed potential commissions to investors and may lack the evidence to clear that hurdle, experts say.

Dismissing the U.S. Securities and Exchange Commission’s fraud claims against Paxton with prejudice, U.S. District Judge Amos Mazzant III found Thursday that Paxton didn’t owe a fiduciary duty to a group of investors to whom he had promoted stock, and thus wasn’t required to disclose he would be paid a commission....

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