DarkPulse Inc (DPLS)

[trader53]

DPLS SEC 3-Year Action Suggests End is Near


DPLS Toxic Lenders are Responding to SEC Investigations




______________________________________________________________________


August 19, 2024

GHS Investments LLC
and its owners
settle with SEC –
agree to pay disgorgement and fines
and surrender remaining notes, warrants and stock.

https://www.securitieslawyer101.com/2024/ghs-investments-llc-and-its-owners-mark-grober-sarfraz-hajee-and-matthew-schissler-settle-with-sec-agree-to-pay-disgorgement-and-fines-and-surrender-remaining-notes-warrants-and-stock/


February 14, 2024

Ibrahim Almagarby
Loses
Unregistered Dealer Appeal
https://www.securitieslawyer101.com/2024/ibrahim-almagarby-loses-unregistered-dealer-appeal/

Ibrahim Almagarby
and
Microcap Equity Group LLC
Charged by SEC
https://www.securitieslawyer101.com/2017/ibrahim-almagarby/

https://www.sec.gov/enforcement-litigation/litigation-releases/lr-23992

____________________________________________________


Basile's article is dated Aug 2023
references "SEC v. Almagarby, et al."
which was initiated in 2017,
and finalized in 2020

(date of published judgment;
but note: remedies weren't ordered until 2021).

If a 3-year time frame is typical,
that might suggest that any SEC actions
against DPLS toxic lenders that started in, say, 2021,
might be near their end.

https://www.thebasilelawfirm.com/post/how-toxic-lenders-are-responding-to-sec-investigations-and-enforcement-actions

______________________________________________________________


The Basile Law Firm P.C. - Recent Court Wins

https://www.thebasilelawfirm.com/post/the-basile-law-firm-p-c-recent-court-wins

______________________________________________________________


How Toxic Lenders are Responding to SEC Investigations and Enforcement Actions

The United States Securities and Exchange Commission (SEC)
has been investigating the convertible toxic note industry for a few years
and has recently filed several high profile enforcement actions
against several of these “lenders”
for violations of certain federal securities laws,
particularly failure to register as a “dealer”

A troubling pattern has emerged.

Many of these lenders are probably seeing the writing on the wall
as it is only a matter of time before the SEC comes after them.
It seems that while panic is slowly setting in,
lenders are becoming more and more aggressive
in attempting to settle outstanding and unpaid notes
and/or claim default and commence lawsuits for the same.

https://www.thebasilelawfirm.com/post/how-toxic-lenders-are-responding-to-sec-investigations-and-enforcement-actions

_______________________________________________________


DarkPulse, Inc.,
RedHawk Holdings,
Social Life Network
v
Crown Bridge Partners

(OTCM:DPLS - OTCM SSSD - OTCM WDLF)
Case No. 23- 7550
(Second Circuit Court of Appeals – August 19, 2024)
Second Circuit vacates SDNY ruling dismissing case
stating that the lower court failed to use the New York standard
to determine choice of law when it applied Nevada law (no usury limits) to the case.
This is a RICO case brought against a toxic dilution funder
and its principals personally,
after the SEC settled an unregistered dealer case against them
for several million dollars.
The case now goes back to the trial court.


Darkpulse, Inc.
v
Firstfire Global Opportunity Fund.

Case No. 23-0078-CV
(U.S.C.A 2nd Circuit – March 28, 2024) –
Second Circuit Court of Appeals vacates District Courts judgment
dismissing RICO and Dealer Registration claims made by our client,
remanded case back to Trial court for disposition. (OTCM:DPLS)

_____________________________________________________________________


More Capital, L.P.
v
Darkpulse, Inc.,

Case No. 27-cv-21-1173 Minn. Dist. Ct., August 22, 2023)
Corporate-issuer to prevail on summary judgment motion
against plaintiff-Unregistered Securities Dealer
on statutory affirmative defense
interposed under the Securities Exchange Act of 1934.
Pursuant to Section 29(b) of the Exchange Act,
plaintiff's violation of Section 15(a)
entitled defendant-corporation to have all securities contracts
declared. null and void.
(First in nation civil suit decision against a toxic convertible note lender
in Unregistered Dealer case.)
Saved client more than 300M shares in dilution and $150K,
awarded client monetary damages). (OTCM:DPLS)


Goodman et al.
v
Darkpulse, Inc.

(Ariz. State District Ct.- June 2023)
Client sued by former directors for 900M shares and $36M.
Defended suit and negotiated settlement
saving client $33M
and over 2B shares in dilution. (OTCM:DPLS)


Carebourn Capital, L.P.
v.
DarkPulse, Inc.,

Case No. 27-cv-21-1173
(Minn. Dist. Ct., April 21, 2023)
First corporate-issuer to prevail on summary judgment motion
against plaintiff-Unregistered Securities Dealer
on statutory affirmative defense interposed
under the Securities Exchange Act of 1934.
Pursuant to Section 29(b) of the Exchange Act,
plaintiff's violation of Section 15(a)
entitled defendant-corporation
to have all securities contracts declared. null and void.
(First in nation civil suit decision
against a toxic convertible note lender in Unregistered Dealer case.)
Saved client more than 300M shares in dilution and $400K,
awarded client monetary damages). (OTCM:DPLS)


DarkPulse, Inc.
v.
EMA Financial, LLC, et al.,

Case No. 1:22-cv-00045 (S.D.N.Y., March 1, 2023) -
Defeated convertible note lender
and its principal's motion to dismiss
corporate-borrower's claims for RICO unlawful debt collection,
alleging more than $500,000.00 in damages.
Case settled quickly.
(First in nation toxic convertible note RICO case) (OTCM:DPLS)


https://www.thebasilelawfirm.com/post/how-toxic-lenders-are-responding-to-sec-investigations-and-enforcement-actions

_______________________________________________________