{"id":13901,"date":"2024-05-29T13:42:19","date_gmt":"2024-05-29T10:42:19","guid":{"rendered":"https:\/\/forklog.com\/en\/sec-withdraws-lawsuit-against-debt-box-ordered-to-pay-1-8-million-in-costs\/"},"modified":"2024-05-29T13:42:19","modified_gmt":"2024-05-29T10:42:19","slug":"sec-withdraws-lawsuit-against-debt-box-ordered-to-pay-1-8-million-in-costs","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-withdraws-lawsuit-against-debt-box-ordered-to-pay-1-8-million-in-costs\/","title":{"rendered":"SEC Withdraws Lawsuit Against DEBT Box, Ordered to Pay $1.8 Million in Costs"},"content":{"rendered":"

A US federal court ordered<\/a> the SEC<\/span> to pay approximately $1.8 million in costs related to the case against the mining company Digital Licensing, also known as DEBT Box.<\/p>\n

This amount includes fees for defense attorneys and other litigation expenses.\u00a0<\/p>\n

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\u201cWith this order, the court ensures that the final amount requested by both parties is reasonable,\u201d the documents state.<\/p>\n<\/blockquote>\n

According to another notice<\/a>, the case was dismissed at the SEC’s request \u201cwithout prejudice.\u201d This term indicates that the process cannot be resumed with its original claims.<\/p>\n

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\u201cThe Commission asserts that dismissing the case is appropriate as it protects investors and public interests and does not cause legal harm to the defendants,\u201d the ruling states.\u00a0<\/p>\n<\/blockquote>\n

In July 2023, the SEC accused DEBT Box of fraudulently raising $50 million in cash, as well as undisclosed amounts in Bitcoin and Ethereum. The regulator urgently froze the company’s assets and took action against four of its executives and 13 other defendants.<\/p>\n

In December, the court concluded that the agency’s lawyers misled it in an attempt to block DEBT Box’s funds. During the proceedings, the mining firm was able to refute the SEC’s claims of transferring investors’ money outside the US.<\/p>\n

Company representatives shared the \u201cgood news\u201d about the dismissal of the lawsuit on X.\u00a0<\/p>\n

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? We have some fantastic news to share with our D.E.B.T. Box community today!<\/p>\n

The U.S. District Court for the District of Utah has officially dismissed the SEC’s case against us without prejudice. This means the case is closed, and any future action by the SEC would have to go\u2026 pic.twitter.com\/aGiNVxMYbz<\/a><\/p>\n

\u2014 D.E.B.T. (@TheDebtBox) May 28, 2024<\/a><\/p><\/blockquote>\n