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Penny Stock Firm Can't Duck SEC's Unregistered Dealer Suit

By Katryna Perera ( November 8, 2023, 6:41 PM EST) -- A New York federal judge said he wouldn't toss a U.S. Securities and Exchange Commission suit alleging a firm and its managing member failed to register as dealers before selling billions of newly issued shares of penny stocks, saying that the SEC has adequately alleged that the defendants acted as dealers as defined under the Securities Exchange Act of 1934....

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