June 8, 2013 – The Dallas Morning News reports today on a win for firm clients and Texas entrepreneurs Sam and Charles Wyly. The article, “Wyly Wins Rounds in SEC Dispute,” reports that “a federal judge in New York ruled Thursday that the Securities and Exchange Commission can seek only civil penalties in the case for violations that occurred from Feb. 1, 2001, to Feb. 1, 2006.
Bill Brewer, lead attorney for Sam Wyly, 78, called the ruling a “resounding victory,” according to the article. Brewer told the News, “The decision settles an issue at the heart of the SEC’s case and disposes of what the SEC claimed were potentially hundreds of millions of dollars in penalties.”