Velatel Global Comm. (fka VELA)

[pennymonster1]

NO. SEC is appealing the rulings by Judge May (see Charles Hill and Gray Financial which would apply to Ironridge). Her rulings stopped the ALJ hearings (SEC in-house court) because she questioned whether the ALJs were appropriately appointed. If the SEC wins the appeal in the 11th Circuit the ALJ will resume. If they lose, cases would still be heard probably in Federal Court which perhaps gives Ironridge a better chance but I still like the SEC's chances on proving these guys violated the rules.