SEC Prevails on Some Claims in Fake Registration Exemption Case

Traders accused of illegally obtaining, then dumping, shares of microcap companies, must face trial on some of the remaining claims against them in the 2019 US Securities and Exchange Commission case.

Judge Loretta A. Preska of the US District Court for the Southern District of New York on Thursday granted summary judgment to the agency on most of its registration claims against the traders, and she denied a defense bid to throw out the claims before trial.

• The SEC alleged that investment group Magna Management LLC, founder Joshua Sason, and former research head Marc Manuel falsely set up stock transactions ...