A Utah federal judge has mandated that the U.S. Securities and Exchange Commission (SEC) disburse $1.2 million in attorney and receivership fees to three law firms, including two Am Law 100 firms, following their litigation against a cryptocurrency startup and additional defendants.
Defendants in the case include Digital Licensing, also known as Debt Box, whose lead attorney is Richard Hong, a partner at Morrison Cohen in New York, and iX Global LLC, represented by three shareholders from Polsinelli. The SEC’s actions resulted in the appointment of a receiver from Holland & Knight’s Miami office.
The litigation’s aftermath also saw the resignation of two SEC attorneys from the agency. More details are available in the original article.