The SEC persuaded a federal judge to dismiss a Biden-era enforcement action against a penny stock trader in Minnesota after the agency tossed similar lawsuits that had accused companies of operating as unregistered securities dealers.
The Eighth Circuit has held that the government can seek to toss a case after policy or priorities change, Judge Katherine M. Menendez in the US District Court for the District of Minnesota said in a Tuesday order granting the Securities and Exchange Commission’s bid to dismiss its case without prejudice.
“Following the 2024 presidential election and the subsequent change in the administration, the SEC ...