Legal Opinion
United States Securities & Exchange Commission v. Bravata
District Court, E.D. Michigan
Decided January 31, 2011No. Case 09-12950PublishedCited by 4 opinions
1Opinion of the Court
OPINION AND ORDER CONTINUING PRELIMINARY INJUNCTION, ASSET FREEZE ORDER, AND APPOINTMENT OF RECEIVER, AND GRANTING MISCELLANEOUS RELIEF
DAVID M. LAWSON, District Judge.
The Security and Exchange Commission commenced this action on July 26, 2009 alleging that the defendants had engaged in the unauthorized sale of securities, and that the securities it offered for sale were part of a fraudulent scheme in which earlier investors were paid “returns” from new investments remitted by subsequent investors. That type of investment structure is commonly known as a pyramid or Ponzi scheme. The complaint…
2Cases cited29 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- TSC Industries, Inc. v. Northway, Inc.Supreme Court of the United States · 1976
- Securities and Exchange Commission v. W. J. Howey Co.Supreme Court of the United States · 1946
- Hecht Co. v. BowlesSupreme Court of the United States · 1944
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3Cited by4 opinions
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- People v. McPeakAppellate Court of Illinois · 2012
- Securities & Exchange Commission v. SchoolerDistrict Court, S.D. California · 2012
- Securities and Exchange Commission v. Traffic MonsoonDistrict Court, D. Utah · 2020