US judge orders SEC to pay $1.8M in fees over Debt Box Lawsuit
A US Judge has ordered the Securities and Exchange Commission to pay $1.8 million in fees to cover legal costs in its Debt Box lawsuit. The Judge found that the SEC abused its authority in the case, and will now need to pay fines on behalf of the crypto platform. JUST IN: Judge orders SEC to pay $1.8 million in damages for abusing its power against crypto company 'DEBT Box.' pic.twitter.com/3A5jt3iL9e — Watcher.Guru (@WatcherGuru) May 28, 2024 The court order includes almost $747,000 for a court-appointed receiver, according to Judge Robert Shelby of Utah. Shelby previously sanctioned the regulator for “gross abuse of power” in the case, including false statements made by the SEC’s lawyers. The SEC will have to pay nearly $600,000 to Debt Box in fees and costs as part of the ruling. The sanctions against the SEC require the regulator to cover “all attorney fees and costs arising from the improvidently entered ex parte relief.” Judge Shelby ruled that...