Securities and Exchange Commission v. Safeguard Metals LLC

UNITED STATES DISTRICT COURT

CENTRAL DISTRICT OF CALIFORNIA, WESTERN DIVISION

14 15 SECURITIES AND EXCHANGE Case No. 2:22-CV-00693 JFW (SKx) COMMISSION, Hon. John F. Walter, Crtrm 7A Plaintiff,

STATEMENT OF DECISION

vs. GRANTING PLAINTIFF’S

SAFEGUARD METALS LLC MOTION FOR REMEDIES

AND JEFFREY IKAHN,

Defendants.

24 25 26 27 FACTUAL AND PROCEDURAL BACKGROUND 2 On February 1, 2022, the United States Securities and Exchange Commission (“SEC” or “Plaintiff”) filed a Complaint alleging that Safeguard Metals LLC (“Safeguard” or “Safeguard Metals”) and Jeffrey Ikahn1 violated the anti-fraud provisions of the federal securities laws. Safeguard and Ikahn (collectively, “Defendants”) agreed to a bifurcated process for resolving the SEC’s claims against them. Without admitting or denying the SEC’s allegations, Defendants consented to entry of a judgment which, among other things, subjected them to permanent injunctive relief and prohibited them from engaging in…