Securities – SEC Investigation 

Posted: 1:00 am Mon, November 2, 2009
By admin

Where the Securities and Exchange Commission is investigating possible securities violations committed by a company in which plaintiff is a part owner; the SEC issued a subpoena to plaintiff, among others, for his sworn testimony; and plaintiff has moved to stay the investigation pending the resolution of any criminal investigation against him; the court denies plaintiff’s motion for lack of subject matter jurisdiction because the decision to commence an investigation is committed to the SEC’s discretion, and a subpoena enforcement action is the exclusive method by which the validity of the investigation may be challenged.