United States Securities and Exchange Commission v. Western International Securities, Inc.
Opinion
trial_court Opinion
Case 2:22-cv-04119-ODW-AFM Document 71 Filed 03/13/23 Page 1 of 21 Page ID #:781
O 1
2 3 4 5 6 7
8 United States District Court 9 Central District of California
10
11 UNITED STATES SECURITIES AND Case № 2:22-cv-04119-ODW (AFMx)
EXCHANGE COMMISSION,
12 ORDER GRANTING IN PART AND Plaintiff, 13 DENYING IN PART PLAINTIFF’S v. MOTION TO STRIKE 14 AFFIRMATIVE DEFENSES [56]
WESTERN INTERNATIONAL
15 SECURITIES, INC. et al.,
16 Defendants.
17 18 I. INTRODUCTION 19 Plaintiff United States Securities and Exchange Commission (“SEC”) brings 20 suit against Defendant Western International Securities, Inc. (“Western”) and five of 21 its registered representatives for violating SEC Regulation Best Interest in connection 22 with recommending and brokering the purchase of high-risk, illiquid L Bonds for 23 Western’s retail investor clients. The SEC now moves to strike several of Defendants’ 24 affirmative defenses. (Mot. Strike (“Motion” or “Mot.”), ECF No.…