On Monday, April 21, 2025, the SEC declined to file an amended complaint against CSV’s client Richard Heart, cementing a complete victory for Mr. Heart in the SEC’s case against him and several cryptocurrency projects. In a February ruling, U.S. District Judge Carol Bagley Amon dismissed all the SEC’s claims in response to Mr. Heart’s motion to dismiss, representing a rare early victory for a defendant in an SEC enforcement action. Judge Amon’s dismissal order permitted the SEC to file an amended complaint so long as the SEC believed “in good faith it can amend the Complaint to remedy the deficiencies identified.” In a filing on Monday, the SEC confirmed that it would not file an amended complaint.
CSV is co-counsel to Heart with Quinn Emanuel Urquhart & Sullivan LLP, Kirk & Ingram, LLP, and Gray Reed.
Previous posts about Mr. Heart’s motion to dismiss and the court’s ruling are available here and here.
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