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http://nycourts.law.com/CourtDocumentViewer.asp?view=Document&docID=46509 Judge Mukasey THE SECURITIES and Exchange Commission (SEC) sought to permanently enjoin defendants from violating �10(b) of the Exchange Act and Rule 10b-5 after alleging that an individual defendant violated those rules and is likely to commit such violations in the future unless enjoined from doing so. The court denied the defendant’s motion to dismiss the complaint, finding that the complaint adequately states a claim for the requested injunction against defendant. The court noted that because “past illegal conduct is highly suggestive of the likelihood of future violations,” the SEC properly pleaded its prayer for injunctive relief by alleging that defendant has violated federal securities laws in the past. The court added that defendant raised several arguments to suggest that he is not substantially likely to violate federal securities laws in the future and noted that it remains to be seen whether the SEC ultimately can prevail on its claim for injunctive relief.

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