Partial Summary Judgment, Disgorgement Rulings In SEC Action Affirmed

Mealey's (May 9, 2019, 3:03 PM EDT) -- SAN FRANCISCO — A federal district court did not err in granting summary judgment in a Securities and Exchange Commission lawsuit against a defendant who allegedly participated in a pump-and-dump scheme because material produced by the SEC did not raise triable issues of material fact as to the deceptive nature of a financing agreement with an offshore entity or the defendant’s involvement with the entity, a Ninth Circuit U.S. Court of Appeals panel ruled May 8 (U.S. Securities and Exchange Commission v. Wayne S.P. Weaver, et al., No. 17-56423, 9th Cir., 2019 U.S. App. LEXIS 13780)....