The SEC initially misled a court to freeze Debt Box’s assets, which has since been reversed, with the firm citing the incident as grounds to dismiss the suit.
Debt Box and other defendants in a United States Securities and Exchange Commission (SEC) lawsuit want the case tossed after a court found the agency lied to secure a temporary restraining order against them.
“The SEC got this case wrong. Badly wrong,” lawyers for Digital Licensing, which does business as Debt Box, told Judge Robert Shelby of the U.S. District Court for the District of Utah in a Dec. 4 motion to dismiss. “The SEC should not be allowed to continue to spin a false narrative to avoid dismissal.”
The SEC won a temporary restraining order to freeze Debt Box assets on Aug. 3, claiming the firm would remove evidence and secretly transfer assets overseas if they were notified the order would be imposed on them.
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