Judge Throws Out DEBT Box Case, Orders SEC to Pay $1.8M
The US District Court for the District of Utah on Tuesday threw out the SEC’s case against DEBT Box and imposed fines exceeding $1.8m on the regulatory body for its bad faith actions.
The fines cover legal fees and court costs. This penalty follows the court’s finding that the SEC misled the judge to get a temporary order in its favor.
In the same May 28 filing, Judge Robert Shelby approved the SEC’s request to dismiss the ongoing case without prejudice, enabling the agency to file a related case in the same court before the judge at a later time.
DEBT Box and its co-defendants argued that the case should be dismissed with prejudice to bar the SEC from initiating additional enforcement measures against the company. Nonetheless, the company expressed satisfaction with the ruling, considering it a favorable outcome.
“This is a significant win for us. It means that the SEC cannot proceed with the case as it stands,” the firm said on X.
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