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Thanks Doctor, but Leeb vs the SEC is not the case I was referring to. Leeb was essentially accused of using the news letter as a form of false/ fraudulent advertising for their fund. The case I am thinking of was an individual who cranked out a tip sheet on his pc every month and sued the SEC when they insisted he register. The SEC lost ( guess I had the defendant part wrong in my last post, as the SEC would have been the defendant ) . This is much more analogous to the CFTC case in progress. Norman, do you know the details on this, you seemed to know the case I'm referring to when it came up in one of our personal emails. Any input would help. Thanks !
All the Best !
Bill
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From: THE DOCTOR
Sent: Thursday, December 18, 1997 12:12 AM
To: bshumake@xxxxxxxxxxxx
Cc: RealTraders Discussion Group
Subject: Re: Pending Case?
The defendents lost in the SEC case. See Leeb vs the SEC. They settled
with admitting guilt,,but paid $500,000 fine. I consider that losing.
I'm not certain if it is the same case you view as the test case, but
this is the one the industry and press watched the most closely. The
defense was the that the 1st amendment didn't apply.
The CFTC case against Leeb is still pending and the states are still
active with their claims. The general view is that it will cost a few
million more to settle. If that's winning handily I'd hate to lose.
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