Utah Federal Judge Finds SEC Used Inaccurate Info For Temporary Restraining Order

(December 5, 2023, 10:24 AM EST) -- SALT LAKE CITY — A federal judge in Utah dissolved a temporary restraining order (TRO) requested by the Securities and Exchange Commission in an enforcement action it brought against several groups it accused of using a cryptocurrency scheme to defraud investors of at least $49 million, finding that the commission had failed to show how irreparable harm would occur without the order and made a number of representations that were “false and misleading” in the application process....