Did the Securities and Exchange Commission let off the hook a company it had charged with wrongdoing because it cooperated with an investigation?
It sure seems like it at first glance.
Last week, the regulator announced that Judge Barefoot Sanders, United States District Judge for the Northern District of Texas, entered an order dismissing the Commission's civil injunctive action against Stand-By Systems, Inc. and president Kenneth J. Palmer.
It noted in its litigation release that “in light of developments since the filing of its lawsuit, it should not continue to advance its claims against the defendants.”
It added that in making its ...