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A comment on The SEC has told us it wants to sue us over Lend. We don’t know why. Parent comment

Re:The SEC has told us it wants to sue us over Lend. We don’... by dataflow on Wednesday September 08, 2021 @01:34AM (#28453422)
> his entire legal career has been patents

I'm confused, is patent experience particularly relevant to this case about securities law?

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Re:The SEC has told us it wants to sue us over Lend. We don’... by OldHand2018 on Wednesday September 08, 2021 @01:55AM (#28453553)
No, that's why I'd like to assume that when he says he doesn't know why the SEC has a problem with their plan, he is telling the truth and this isn't just a PR attempt.
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Re:The SEC has told us it wants to sue us over Lend. We don’... by josefx on Wednesday September 08, 2021 @02:51AM (#28453916)
Except he says they got a wells notice, first hit for that on google:

> A "Wells Notice" is a letter sent by a securities regulator to a prospective respondent, notifying him of the substance of charges that the regulator intends to bring against the respondent, and affording the respondent with the opportunity to submit a written statement to the ultimate decision maker.

So did they receive a notice with the charges or didn't they?

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Re:The SEC has told us it wants to sue us over Lend. We don’... by throwaway2037 on Wednesday September 08, 2021 @03:10AM (#28454042)
Good question. I needed to remind myself of the nuance. First sentence from Wiki says: <<A Wells notice is a letter that the U.S. Securities and Exchange Commission (SEC) sends to people or firms when it is planning to bring an enforcement action against them.>>

To me: "planning" is the key term.

Ref: https://en.wikipedia.org/wiki/Wells_notice

The Wiki article is short and dense. I highly recommend it!

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