The Utah federal district court ordered the U.S. Securities and Exchange Commission to pay seven figures in attorney and receivership fees to two Am Law 100 firms and a New York law firm over the agency’s litigation against a cryptocurrency startup and additional defendants.
The defendants include Digital Licensing, also known as Debt Box, whose lead attorney is Richard Hong, a partner at Morrison Cohen in New York, and iX Global LLC, represented by three shareholders from Polsinelli. Opposing them was the plaintiff, the SEC, whose actions led to the appointment of a receiver from Holland & Knight’s Miami office.
Richard Hong, partner at Morrison Cohen