Securities & Exchange Commission v. Farnsworth

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK SECURITIES AND EXCHANGE COMMISSION, Plaintiff, 22 Civ. 8226 (KPF) -v.- OPINION AND ORDER THEODORE J. FARNSWORTH, J. MITCHELL LOWE, and KHALID ITUM, Defendants. KATHERINE POLK FAILLA, District Judge: MoviePass, Inc. (“MoviePass”) is a subscription service that, during the relevant time period, allowed subscribers to pay a fixed monthly fee to see multiple movies per month at participating theaters. In August 2017, Helios and Matheson Analytics Inc. (“HMNY,” and together with MoviePass, the “Companies”) acquired MoviePass. Unfortunately…