SEC Spars With Blockvest Over Sanctions Recommendation

Law360 (May 7, 2020, 4:22 PM EDT) — Cryptocurrency company Blockvest LLC and its founder faced off against the U.S. Securities and Exchange Commission over a California federal magistrate judge’s recommendation to terminate sanctions over falsified documents that Blockvest filed during the litigation.

The SEC asked the court Thursday to adopt the magistrate judge’s report and recommendations, and it slammed an objection to the sanctions filed by Blockvest founder Reginald Buddy Ringgold III on Wednesday.

Ringgold contended in his objection that U.S. Magistrate Judge Michael S. Berg’s recommendation for sanctions was unfair and improper, and that Ringgold has a right to a jury trial under the Seventh Amendment….

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