Default Judgment Rulings In SEC Action Over Securities Fraud Scheme Affirmed

Mealey's (June 28, 2022, 1:34 PM EDT) -- SAN FRANCISCO — A federal district court did not abuse its discretion in granting a limited stay for two men accused of orchestrating a more than $29 million securities offering scheme to defraud investors who invested in the defendants’ sports betting operations because neither of the men sought to extend the stay, as they were permitted to do, a Ninth Circuit U.S. Court of Appeals panel ruled June 27 in affirming....