Empower Oversight and U.S SEC Reach Settlement in Ongoing Lawsuit

• The only one to be resolved will be the one filed against the SEC in May 2023.
• Two matters with the SEC are still ongoing with Empower Oversight.

The U.S SEC has reached a settlement in a lawsuit that requested the disclosure of information pertaining to any conflicts of interest in the SEC’s enforcement actions regarding crypto. The head of the government watchdog group Empower Oversight explained the reasoning for the decision to settle the case with the SEC.

A long-running litigation was reportedly settled this week between the U.S. SEC and Empower Oversight, according to Law360. When this happened, investors weren’t sure whether the government watchdog had resolved disagreements with the SEC over the regulator’s enforcement judgments against cryptocurrency businesses.

Tristan Leavitt, president of Empower Oversight, stated:

“We at Empower Oversight are definitely not done fighting for answers from the SEC.”

Other Cases Still Pending

He clarified that other cases are still pending in court, and that the only one to be resolved will be the one filed against the SEC in May 2023.

The government watchdog stated:

“Following the production of those documents Empower began settlement talks with the SEC, but which didn’t conclude until we recently reached agreement over attorney’s fees.”

Two matters with the SEC are still ongoing with Empower Oversight. First, there are the fresh concerns raised by the SEC’s document leaks. The new request shifts the focus away from requesting conversations between particular people and toward looking for publicly-interesting information, such as those containing relevant keywords.

Second, the first FOIA lawsuit involving litigation by ex-SEC officials, documents from the SEC vs Ripple case, and a referral to the SEC OIG about managing Hinman’s conflicts are all sought by Empower Oversight.

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