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summary
The SEC dismissed a fraud case against Ian Balina with prejudice, ending a case that began in September 2022, and Balina waived any rights to seek reimbursement of attorney's fees or other expenses related to the case.
paragraph
The SEC and Ian Balina agreed to dismiss a civil enforcement action with prejudice, ending a case that began in September 2022. The SEC alleged that Balina engaged in securities fraud, but the parties have reached a settlement, and the case will be dismissed without costs or fees to either party. The dismissal does not affect any other cases, and Balina agrees to dismiss an interlocutory appeal related to the case.
narrative
The SEC and Ian Balina have agreed to dismiss a civil enforcement action with prejudice, ending a case that began in September 2022. The SEC alleged that Balina engaged in securities fraud, but the parties have reached a settlement, and the case will be dismissed without costs or fees to either party. The dismissal does not affect any other cases, and Balina agrees to dismiss an interlocutory appeal related to the case. The SEC's decision to dismiss the case does not reflect its position on other cases, and Balina waived any rights to seek reimbursement of attorney's fees or other expenses related to the case. The case was dismissed with prejudice, meaning that the allegations against Balina are considered true and he cannot refile the case. The dismissal also includes the appeal of the case, and Balina agreed to waive any rights to seek reimbursement for legal fees or costs related to the case.
Classified unclassified. No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Statutes
28 U.S.C. 1292(b)
Keywords
objendstream endobjstreamendobjendstreampdf-vgvvnklvttdsuuidmtvsnntj-pjy
Extracted insights
Entities 1
- agency Securities and Exchange Commission
Triples 1
- The Court announced the decision
PDF
Text layers
Extracted body text (4,032c)
UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF TEXAS
AUSTIN DIVISON
U.S. SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
-against-
lAN BALINA,
Defendant.
Civil Action No. 1 :22-CV-950
ECFCASE
JOINT STIPULATION TO DISMISS. AND RELEASES
Plaintiff Securities and Exchange Commission (the "Commission" or the "SEC") and
Defendant Ian Balina ("Balina") respectfully submit this joint stipulation.
WHEREAS, the Commission filed its complaint in this civil enforcement action (the
"Litigation") on September 19, 2022. ECF 1.
WHEREAS, on May 22, 2024, the Court entered an order granting partial summary
judgment to the SEC as to certain liability issues. ECF 44.
WHEREAS, Balina moved to certify an interlocutory appeal under 28 U.S.C. 1292(b) of
the Court's May 22, 2024 Order, this Court granted such motion on August 16, 2024 (ECF 53),
and the Fifth Circuit Court of Appeals agreed to take the appeal on September 17, 2024
(ROA.1709-10, 1713).
WHEREAS, the interlocutory appeal has been assigned Fifth Circuit case number
No.24-50726 ("Interlocutory Appeal") and is currently being briefed by the parties.
WHEREAS, on January 21, 2025, the Commission's Acting Chairman Mark T. Uyeda
launched a crypto task force dedicated to helping the Commission further develop the regulatory
framework for crypto assets.
WHEREAS, in light of the foregoing, and in the exercise of its discretion and as a policy
matter, the Commission believes the dismissal of this case is appropriate.
WHEREAS, the Commission's decision to seek dismissal of this Litigation does not
necessarily reflect the Commission's position on any other case.
WHEREAS, by this stipulation, the Commission and Balina agree to have this Litigation
dismissed, and Balina agrees to the dismissal of the Interlocutory Appeal.
NOW, THEREFORE,
1. Pursuant to Federal Rule of Civil Procedure 41(a)(l)(A)(ii), the Commission and
Balina stipulate that this Litigation be dismissed with prejudice as to the conduct alleged in the
Complaint through the date of the filing of this Stipulation, and without costs or fees to either
party.
2. Within 3 business days of the date that this stipulation is filed with the district
court, Balina shall file with the Court of Appeals for the Fifth Circuit an unopposed motion to
dismiss the Interlocutory Appeal in accordance with Fifth Circuit Rule of Appellate Procedure
42.1.
3. Balina, for himself and any of his agents, attorneys, employees, or
representatives, hereby waives and releases:
a. Any and all rights under the Equal Access to Justice Act, the Small Business
Regulatory Enforcement Fairness Act of 1996, or any other provision of law to
seek from the United States, or any agency, or any official of the United States
acting in his or her official capacity, directly or indirectly, reimbursement of
attorney's fees or other fees, expenses, or costs expended by Balina that in any
way relate to (i) the Litigation, including but not limited to investigative steps
taken prior to commencing the Litigation, (ii) the petition for interlocutory
review, and (iii) the Interlocutory Appeal.
b. Any and all claims, demands, rights, and causes of action of every kind and
nature, asserted or unasserted, against the Commission and its present and
former officers or employees that arise from or in any way relate to (i) the
Litigation, including but not limited to investigative steps taken prior to
commencing the Litigation, (ii) the petition for interlocutory review, and (iii) the
Interlocutory Appeal.
2
4. Each of the undersigned represents that they have the authority to execute this
stipulation on behalf of the party so indicated.
STIPULATED AND AGREED:
~
Acting Director
ANTONIA M. APPS
Acting Deputy Director
Enforcement Division
SECURITIES AND EXCHANGE
COMMISSION
, ---;--____ ______ --=...c:'.----
~ LISSAARMSTR~
COUNSEL FOR PLAINTIFF
SECURITIES AND EXCHANGE
COMMISSION
Dated: M ~ y k , 2025
3
~~-
MCHAEL NAVARRE
COUNSEL FOR DEFENDANT IAN
BALINA
Dated: IV\(M, vV\ \ i""' , 2025OCR text (4,338c · tika · 95% conf)
Case 1:22-cv-00950-DAE Document 60 Filed 05/01/25 Page 1 of 3
UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF TEXAS
AUSTIN DIVISON
U.S. SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
-against-
lAN BALINA,
Defendant.
Civil Action No. 1 :22-CV-950
ECFCASE
JOINT STIPULATION TO DISMISS. AND RELEASES
Plaintiff Securities and Exchange Commission (the "Commission" or the "SEC") and
Defendant Ian Balina ("Balina") respectfully submit this joint stipulation.
WHEREAS, the Commission filed its complaint in this civil enforcement action (the
"Litigation") on September 19, 2022. ECF 1.
WHEREAS, on May 22, 2024, the Court entered an order granting partial summary
judgment to the SEC as to certain liability issues. ECF 44.
WHEREAS, Balina moved to certify an interlocutory appeal under 28 U.S.C. 1292(b) of
the Court's May 22, 2024 Order, this Court granted such motion on August 16, 2024 (ECF 53),
and the Fifth Circuit Court of Appeals agreed to take the appeal on September 17, 2024
(ROA.1709-10, 1713).
WHEREAS, the interlocutory appeal has been assigned Fifth Circuit case number
No.24-50726 ("Interlocutory Appeal") and is currently being briefed by the parties.
WHEREAS, on January 21, 2025, the Commission's Acting Chairman Mark T. Uyeda
launched a crypto task force dedicated to helping the Commission further develop the regulatory
framework for crypto assets.
WHEREAS, in light of the foregoing, and in the exercise of its discretion and as a policy
matter, the Commission believes the dismissal of this case is appropriate.
Case 1:22-cv-00950-DAE Document 60 Filed 05/01/25 Page 2 of 3
WHEREAS, the Commission's decision to seek dismissal of this Litigation does not
necessarily reflect the Commission's position on any other case.
WHEREAS, by this stipulation, the Commission and Balina agree to have this Litigation
dismissed, and Balina agrees to the dismissal of the Interlocutory Appeal.
NOW, THEREFORE,
1. Pursuant to Federal Rule of Civil Procedure 41(a)(l)(A)(ii), the Commission and
Balina stipulate that this Litigation be dismissed with prejudice as to the conduct alleged in the
Complaint through the date of the filing of this Stipulation, and without costs or fees to either
party.
2. Within 3 business days of the date that this stipulation is filed with the district
court, Balina shall file with the Court of Appeals for the Fifth Circuit an unopposed motion to
dismiss the Interlocutory Appeal in accordance with Fifth Circuit Rule of Appellate Procedure
42.1.
3. Balina, for himself and any of his agents, attorneys, employees, or
representatives, hereby waives and releases:
a. Any and all rights under the Equal Access to Justice Act, the Small Business
Regulatory Enforcement Fairness Act of 1996, or any other provision of law to
seek from the United States, or any agency, or any official of the United States
acting in his or her official capacity, directly or indirectly, reimbursement of
attorney's fees or other fees, expenses, or costs expended by Balina that in any
way relate to (i) the Litigation, including but not limited to investigative steps
taken prior to commencing the Litigation, (ii) the petition for interlocutory
review, and (iii) the Interlocutory Appeal.
b. Any and all claims, demands, rights, and causes of action of every kind and
nature, asserted or unasserted, against the Commission and its present and
former officers or employees that arise from or in any way relate to (i) the
Litigation, including but not limited to investigative steps taken prior to
commencing the Litigation, (ii) the petition for interlocutory review, and (iii) the
Interlocutory Appeal.
2
Case 1:22-cv-00950-DAE Document 60 Filed 05/01/25 Page 3 of 3
4. Each of the undersigned represents that they have the authority to execute this
stipulation on behalf of the party so indicated.
STIPULATED AND AGREED:
~
Acting Director
ANTONIA M. APPS
Acting Deputy Director
Enforcement Division
SECURITIES AND EXCHANGE
COMMISSION
, ---;--____ ______ --=...c:'.----
~ LISSAARMSTR~
COUNSEL FOR PLAINTIFF
SECURITIES AND EXCHANGE
COMMISSION
Dated: M ~ y k , 2025
3
~~-
MCHAEL NAVARRE
COUNSEL FOR DEFENDANT IAN
BALINA
Dated: IV\(M, vV\ \ i""' , 2025