In a statement released to media, Texas Attorney General Ken Paxton said: “I have maintained all along this whole saga is a political witch hunt. Today’s ruling to dismiss the charges with prejudice confirms that these charges were baseless when the SEC initially brought them and they were without merit when the SEC re-filed them. Someone needs to hold the SEC accountable for this travesty.”
Yes, not only did U.S. District Judge Amos Mazzant dismiss the entire federal case against Mr. Paxton, he did so “with prejudice” meaning with final and binding result. Meaning no more repackaging the case, as has already been done once by the feds, to try and go after Paxton for something that was not illegal.
“This case has not changed since the Court conditionally dismissed the Commission’s Original Complaint,” Judge Mazzant wrote. “The primary deficiency was, and remains, that Paxton had no plausible legal duty to disclose his compensation arrangement with investors.”
Esteemed expert on securities law and former high level prosecutor for the U.S. Department of Justice, now representing Paxton as defense counsel on near identical charges at the state level, Bill Mateja said Thursday: “We are now focused on Ken Paxton’s full exoneration in the state matter, where the special prosecutor’s burden is even higher and the fraud allegations in the SEC case mirror those in the state case.”
When the state case was first announced experts across the country called into question the charges brought.
In the waning days of the Obama administration, the Securities and Exchange Commission sought to pile on with federal charges, and have utterly failed.
When will the political persecutors-for-hire give up on the state case?
They won’t, they may get a jury decision they like and they don’t care if such is overturned on appeal because the entire effort is simply to politically ruin Ken Paxton.