…. The newly filed action by the SEC once again raises the wisdom of Gupta’s efforts to obtain dimissal of the administrative proceeding (we have criticized the court’s reasoning on this Blog). Had the administrative proceeding been taking place, Gupta through discovery might have obtained more insight into the government’s theory of the case and the evidence that it intends to present. Moreover, as we have noted, the settlement of an administrative proceeding is viewed generally as less serious than a settlement of an injunctive proceeding.
‘Enforcement 40’ for 2020
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