The S.E.C. responds that a finding of liability is a prerequisite to injunctive relief and the factual basis for liability informs the Court’s analysis of whether an injunction should issue. S.E.C. v. Treadway, 430 F.Supp.2d 293, 346 (S.D.N.Y.2006) (declining to rule on whether remedies were warranted because of the existence of genuine issues of material fact); S.E.C. v. Fenster, 929 F.Supp. 1346, 1349 (D.Colo.1996) (denying motion to dismiss so that the S.E.C. could conduct discovery and present evidence of alleged past violations). Hussey has cited one case in which injunctive relief was denied at the summary judgment stage without regard to the eventual outcome of the S.E.C.’s claim. S.E.C. v. Shanahan, Civ. A. No. 07-2879, 2010 WL 173819, at *9, 15-16 (D.Minn. Jan. 13, 2010) (<HOLDING>). In that case, however, unlike this one, the
holding that some operative facts did occur in the district of columbia where nonfiling or misfilings with the sec occurred holding that the sec may subpoena records in a securities investigation even if the persons involved are also subject to regulation by the department of agriculture under the commodity exchange act holding that sec interpretation of federal securities law is entitled to deference if it is reasonable holding that even if the sec succeeded in showing defendants violated the exchange act or sec rules the sec is not entitled to a permanent injunction or an officerdirector bar holding that for a section 10b violation the sec must prove that the defendant in connection with the purchase or sale of securities made a materially false statement or omitted a material fact with scienter and that the plaintiffs reliance on the defendants action caused injury to the plaintiff