There is to be a hearing on September 11, but we may well learn more prior to that time. [And consider the possibility that the below "separate investigation" may well put the man at right, as well as other previously settled defendants, in the Manhattan action -- at risk, anew.]
Now, overnight, a second law firm [one long run by the "old 1990s internet's SEC legal maven", Mark Astarita] has written the able Judge Ramos, in New York's Southern District -- asking that the SEC give the defendants adequate notice of the both the scope, and nature of -- and the parties being investigated (even if need be, under seal) -- in the now-known "later dated" SEC investigation(s) (one we believe is centered out of the government's West Coast offices). And here, for background, is the first letter objection -- from Cooley.
The more I think about this, the fairer it seems -- as a request. This is, after all, only civil litigation at this point, in Manhattan -- and property but not liberty is at stake.
Not at the moment, anyway. If there is an ongoing criminal conspiracy (in the government's view), it probably ought not have started civil proceedings, in this manner -- without Wells notices.
If the government is building a new series of cases, based on fact patterns (for example) it alleges at Riot, it probably is time to... say so, before too much money is wasted preparing for a trial that may never happen -- i.e., the "smaller" Manhattan civil case.
I expect the able judge will encourage the SEC to share, in some fashion, at least enough of the details of the other investigation(s), as to allow the remaining defendants to prepare adequately for trial in the existing civil matter in Manhattan. [Note that so far, Riot as a company is not included in Manhattan. And note that Mr. Hassan's case never progressed this far -- before he was gone, from old Schering-Plough.]
And I increasingly expect some version of the egregious Riot fact patterns we've long recited here [since late 2017]... will be featured there.
We shall see -- onward on a sunny warm August day in the Chi... grinning.
नमस्ते
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