The SEC is bringing action against John Fife and h
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Posted On: 12/26/2021 8:41:45 PM
The SEC is bringing action against John Fife and his companies for acting as unregistered securities dealers. I believe that what the SEC claims Fife does is consistent with what some have said about Fife dumping shares. The link at bottom goes to an 18-page court order concerning Fife's motion to dismiss (which was denied). There are some allegations/details from the SEC in that order.
Court Description: MEMORANDUM OPINION AND ORDER Signed by the Honorable Robert M. Dow, Jr on 12/20/2021. The United States Securities and Exchange Commission ("SEC"
brings this action against Defendant John M. Fife and five entities under his control alleging violations of Section 15(a)(1) of the Securities Exchange Act of 1934 by acting as unregistered securities dealers. 15 U.S.C. § 78o(a)(1); 1 . Before the Court is Defendants' motion to dismiss 22 for failure to state a claim. For the reasons below, Defendants' motion 22 is denied. Counsel are directed to file a joint status report no later than January 14, 2022 that includes (a) a proposed discovery plan and (b) a statement in regard to any settlement discussions and/or any mutual request for a referral to the assigned Magistrate Judge for a settlement conference. The Court will set further case management deadlines following review of the joint status report.
https://law.justia.com/cases/federal/district...385719/31/
Court Description: MEMORANDUM OPINION AND ORDER Signed by the Honorable Robert M. Dow, Jr on 12/20/2021. The United States Securities and Exchange Commission ("SEC"
brings this action against Defendant John M. Fife and five entities under his control alleging violations of Section 15(a)(1) of the Securities Exchange Act of 1934 by acting as unregistered securities dealers. 15 U.S.C. § 78o(a)(1); 1 . Before the Court is Defendants' motion to dismiss 22 for failure to state a claim. For the reasons below, Defendants' motion 22 is denied. Counsel are directed to file a joint status report no later than January 14, 2022 that includes (a) a proposed discovery plan and (b) a statement in regard to any settlement discussions and/or any mutual request for a referral to the assigned Magistrate Judge for a settlement conference. The Court will set further case management deadlines following review of the joint status report. https://law.justia.com/cases/federal/district...385719/31/
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