US SEC plans to dismiss lawsuit against DEBT Box

The U.S. SEC today filed a brief with the court in its plan to dismiss the case against DEBT Box.In the brief, the SEC said that "while the Commission recognises that its counsel should be more forthcoming with the court, sanctions are not appropriate or necessary to resolve these issues." The SEC first sued Digital Licensing Inc. doing business as DEBT Box in July of last year and admitted in late December that it made an inaccurate statement and faces sanctions for that misleading statement. FOX Business reporter Eleanor Terrett said in response that the action theoretically opens the door for the SEC to file another new lawsuit against Debt Box in the future. If the judge accepts the offer of dismissal, it doesn't necessarily mean the agency gets off scot-free, and the judge could choose to impose monetary sanctions on the agency for misleading the court.