Man, you have a tough time reading those papers. I am not a lawyer, but ever I as a layman can undrestand what is being sought and what has been ordered.
The SEC sought and was granted a Temporary Restraining Order by the judge which enjoins and restrains Rufus from engaging in fraudulent activity. This, from what I have been told by atty friends, is a standard setup. It makes it easier to amened the complaint with further charges and places Rufus in danger of contempt if he violates the TRO.
The SEC sought but was not granted a Preliminary Injunction against Conversion Solutions and Rufus, which would have caused them to cease operations while the SEC continued to investigate.
The Judge Ordered that a Show Cause hearing be set for Nov 7th. At that time, the Defendants will be required to show the Court why the Motion for a Preliminary Injunction should not be granted to the SEC.
The Judge Ordered that discovery be expedited, which just means that when the SEC asks Rufus for something, he needs to give it up within three days if possible and not blow them off like he did before.
All of these orders are to force Rufus and company to comply with the investigation and ultimately to determine if the SEC has enough to continue to pursue the civil litigation.
AI
