U.S. Court of Appeals for the 9th Circuit
Sep. 2, 2016
SEC lawsuit against water company executives revived by 9th Circuit
The SEC's claim that the former CEO and CFO of a water treatment company defrauded investors by reporting millions of dollars in unearned revenue was revived Wednesday by the 9th U.S. Circuit Court of Appeals.
The Securities and Exchange Commission's claim that the former CEO and CFO of a water treatment company defrauded investors by reporting millions of dollars in unearned revenue was revived Wednesday by the 9th U.S. Circuit Court of Appeals.
The panel reversed U.S. District Judge Manuel L. Real's dismissal of the case, concluding the district judge misinterpreted the law and improperly denied the SEC a jury trial.
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