A New Court Approach To DOJ And SEC Parallel Proceedings

Law360 (June 27, 2019, 3:05 PM EDT) -- On June 14, 2019, a United States district judge in the Northern District of California took a rare step: U.S. District Judge Edward J. Davila completely denied the U.S. Department of Justice's standard request to stay related proceedings brought by the U.S. Securities and Exchange Commission pending resolution of a criminal case. Such requests are often made and granted at least in part as a matter of course. The court’s decision, made in the well-known Theranos case, may have far-reaching consequences in the context of parallel proceedings by the DOJ and the SEC.

The defendant in the SEC and DOJ cases...

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