The reason you might have heard about my Securities and Exchange Commission (SEC) lawsuit is because I didn’t settle the case.
When most people are sued by the SEC, they do their best to put the matter behind them – as quickly and quietly as possible.
This normally involves paying a large fine and essentially promising “not to do it again.” If you pay the fine, the chances are good most people will ignore the matter. You’re not required to admit any guilt. Thus, the damage to your reputation is largely mitigated and you can go on with your life. That’s why most people settle with the SEC when it comes to civil (noncriminal) lawsuits.[Read more...]