“1. This action arises from the SEC’s attempt to subject plaintiff Michelle Cochran to an administrative proceeding that violates Article II of the United States Constitution and the due process clause of the Fifth Amendment.
2. On June 21, 2018, the U.S. Supreme Court held in Lucia v. SEC, 138 S. Ct. 2044 (2018), that the SEC had been appointing its administrative law judges in violation of the Appointments Clause of Article II. The Supreme Court not only nullified the proceeding against the petitioner, Raymond Lucia, it ordered the SEC to reassign his matter to a new, properly appointed ALJ. In an effort to cure the constitutional defect, the SEC attempted to “ratify” the Case 4:19-cv-00066-A Document 1 Filed 01/18/19 Page 1 of 23 PageID 1 2 appointment of all of its ALJs on August 22, 2018 and followed with an order reassigning all pending enforcement proceedings to new ALJs…”