SEC Fights To Keep Alive Suit Over $17M Stock Scheme

Law360, New York (July 21, 2017, 5:01 PM EDT) -- The U.S. Securities and Exchange Commission told a New Jersey federal judge on Friday that injunctive relief sought against a broker-dealer alleged to have taken part in a $17.2 million pump-and-dump scheme is not a time-barred punishment but a remedy designed to protect the public.

Guy Gentile moved to dismiss a March 2016 suit by the commission, saying that the five-year statute of limitations on civil penalties established by the U.S. Supreme Court’s decision in Kokesh v. SEC had expired six months before the action was...
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