United States Securities & Exchange Commission v. Kearns

OPINION

SIMANDLE, District Judge:

This action is presently before the Court a motion to dismiss by Defendants Brian J. Kearns [Docket Item 15]. 1 In response to this securities fraud action brought by the United States Securities and Exchange Commission (“SEC”), Defendant Kearns argues that the complaint is untimely and that the SEC fails to state a claim for securities fraud. The Court, for the reasons expressed below, finds that this action was timely commenced and it will deny Defendant’s motion to dismiss, except as to any claims arising out of the statements constituting mere “puffery”…