Stock market performance data from financial news sources

Federal Judge Dismisses SEC Case Against Debt Box, Orders $1.8 Million Payment

May 29, 2024, 01:02 PM

A U.S. federal judge has dismissed the SEC's case against blockchain miner software license firm, Debt Box, without prejudice. The court found that the SEC's case was marred by false statements and misrepresentations, leading to the agency being formally sanctioned. Judge Robert Shelby ordered the SEC to pay $1.8 million in legal fees for its bad faith conduct. The ruling has been described as a 'monumental victory' for Debt Box, with the SEC unable to proceed with the case as it stands.