A federal judge has ordered the US Securities and Exchange Commission (SEC) to pay attorney and receivership fees of over $1.8 million. This ruling concerns the SEC’s civil lawsuit against Digital Licensing, a business known as Debt Box.
Read CRYPTONEWSLAND onBreakdown of the Fees
On May 28, the United States District Court for the District of Utah Judge Robert Shelby issued an order directing the SEC to pay roughly $1 million in legal and other costs. Per the judgment, the SEC must also pay $750,000 in receiver charges and expenses.
The SEC filed a lawsuit against Digital Licensing in 2023 citing several violations, but the court fined the SEC a significant sum of money and simply rejected the claim. The issue is resolved, but the SEC retains the right to revive it later because of the dismissal without prejudice.
This ruling represents a notable development in the SEC and Digital Licensing legal proceedings. The SEC’s financial burden reflects the court’s opinion regarding the merits and expenses of the legal action. The decision could affect the SEC’s litigation tactics and resource allocation going forward in similar instances.
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