Securities and Exchange Commission v. Choice Advisors, LLC
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF CALIFORNIA 10 SECURITIES AND EXCHANGE Case No.: 21-CV-1669-JO-MSB
COMMISSION,
ORDER (1) GRANTING IN PART
Plaintiff, AND DENYING IN PART v. PLAINTIFF’S MOTION FOR
PARTIAL SUMMARY JUDGMENT;
CHOICE ADVISORS, LLC, and AND (2) DENYING DEFENDANTS’
MATTHIAS O’MEARA,
MOTION FOR PARTIAL
16 Defendants. SUMMARY JUDGMENT 17 18 Plaintiff Securities and Exchange Commission brought a civil law enforcement action against municipal advisors, Choice Advisors, LLC and Matthias O’Meara, alleging that they failed to represent their clients fairly and honestly. The SEC moved for partial summary judgment on several of its claims based on Defendants’ (1) failure to properly register with the appropriate agencies before providing municipal advisory services; (2) entering into a prohibited fee-splitting agreement; (3) serving two masters—the bank and school who sought financing from that bank—at the same time; and (4)…