Bioelectronics Corp (BIEL)

[srinsocal]

Thanks DB,Looks Like...ALL Findings...Are Not Going SEC's Way

So sad, SEC Whistle Blower in BIEL case will get no pay day.

2. On June 5, 2017, approximately one month after the Division submitted the Amended Opposition, the United States Supreme Court issued a decision in Kokesh v. Securities and Exchange Commission, No. 16-529, slip op. (June 5, 2017), in which the Court held that
"[t]he 5-year statute of limitations in§ 2462 ... applies when the SEC seeks disgorgement. Id at 9.

3. This intervening change in law impacts the arguments previously advanced by the Division to the Commission in the Amended Opposition, as well as the relief deemed appropriate
by the ALJ in the Initial Decision.

4. Accordingly, the Division respectfully seeks leave to file a brief Supplemental Submission, narrowly tailored to address the impact of Kokesh on the appropriate award of disgorgement in this matter. That Supplemental Submission is submitted herewith.

5. No date for oral argument has been scheduled in this matter. Accordingly, no prejudice will be caused to Respondents due to the Division's Supplemental Submission and no delay in the Commission's consideration will result.
Dated: June 16, 2017

So the Supreme Court has ruled that the SEC has been seeking illegal Disgorgements from those it has been prosecuting.

The next SC decision will be that the SEC Administrative Law Judges are UnConstitutional.