SEC hit with sanctions for its 'gross abuse of power' in Debt Box case
The SEC initially conceded it misled the court but argued a sanction wasn't appropriate.
A United States district court has imposed sanctions on the Securities and Exchange Commission (SEC) for acting in "bad faith" in a lawsuit it brought against Debt Box.
The SEC initially filed a motion to dismiss without prejudice but that was denied by Judge Robert J. Shelby in a March 18 filing.
"The operation of the American judicial system rests on the fundamental proposition that every party who comes before the court is bound by and adheres to the same set of rules," Shelby added.
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