Panel: Court Properly Denied Investors’ Motion To Intervene In CFTC Action

Mealey's (May 13, 2020, 1:37 PM EDT) -- DENVER — A federal district court did not err in denying a motion to intervene filed by investors in a Commodity Futures Trading Commission (CFTC) and Utah Division of Securities (UDS) enforcement action against a retail coin shop that sold rare coins and precious metals and others stemming from their operation of an alleged Ponzi scheme because the investors failed to show that their claim “cannot be asserted and resolved” through a claim resolution procedure established by the district court “without impairment of their interest,” a 10th Circuit U.S. Court of Appeals panel ruled May 11 (Commodity Futures Trading Commission, et al. v. Rust Rare Coin Inc., et al., No. 19-4100, 10th Cir., 2020 U.S. App. LEXIS 14861)....