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

Re:The SEC has told us it wants to sue us over Lend. We don’... by olalonde on Wednesday September 08, 2021 @05:00PM (#28462992)

I think you misunderstood my question. Let's say the SEC tells you "don't do X or we will sue you" but you believe that the SEC's request is invalid for whatever reason. Is there a way to get a judge to decide on whether you are right, before you do X and get sued?

[ Parent | on HN ]

Re:The SEC has told us it wants to sue us over Lend. We don’... by dragonwriter on Wednesday September 08, 2021 @05:15PM (#28463150)

> Let's say the SEC tells you "don't do X or we will sue you" but you believe that the SEC's request is invalid for whatever reason. Is there a way to get a judge to decide on whether you are right, before you do X and get sued?

I believe you can file an action seeking a declaratory judgement, but as I understand there is generally little reason: a Wells Notice is not, as I understand it, a “we might sue you if you do X” thing but more of “our staff have determined you have done X and that we should sue you for it on basis Y, but you have an opportunity to submit a legal brief to convince us that our staff are wrong before we approve their recommendation” thing.

[ Parent | on HN ]

Re:The SEC has told us it wants to sue us over Lend. We don’... by olalonde on Wednesday September 08, 2021 @05:27PM (#28463283)

Ok thanks, that's more clear.

[ Parent | on HN ]