We are pleased to announce that following the remand of SEC v. Graham from the Eleventh Circuit Court of Appeals, the defense’s victory became complete with the SEC’s stipulation of dismissal of its claim for injunctive relief – the only claim the SEC had remaining after the appellate court affirmed the dismissal of the claim for disgorgement on statute of limitations grounds. On remand, the trial court set the injunctive relief claim for trial. Faced with a trial and renewed motions for summary judgment by the defense, the SEC stipulated to a dismissal of its remaining claim for injunctive relief. The trial court ordered the case dismissed with prejudice on December 6, 2016.

One takeaway from this result is that defendants in other cases may use this dismissal as evidence that the SEC’s ubiquitous claim for injunctive relief is not so important despite its typical arguments to courts that injunctive relief is necessary for the protection of investors.