Federal Judge Denies SEC Bid For Default Judgment For Salesman In Drilling Case

( November 16, 2023, 12:00 PM EST) -- DALLAS — A federal judge in Texas denied a Securities and Exchange Commission motion for default judgment against a man they say was part of a scheme to defraud investors of millions of dollars through unregistered sales of a fracking business, with the judge adopting a magistrate judge’s finding that the SEC had failed to adequately establish that it met the requirements for a default judgment....

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