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David v. Goliath: How One Man Beat the SEC with a Jury

His name is David Lopez and he won his case against one of the Goliaths of the Administrative State—the U.S. Securities and Exchange Commission. Just like in the biblical story of David and Goliath, David Lopez overcame incredible odds to topple a malicious giant.

When the SEC decides you’ve done something wrong, they use the full power of the Administrative State to destroy you. They attack your business and scare your customers, leaving you under an investigative cloud and subjecting you to onerous discovery demands, often for three or four years before they ever file any charges. Many victims of this harassment simply do not have the ability to fight back against an agency with seemingly unlimited resources.

The SEC knows this.

Indeed, they count on it and use just the threat of enforcement as a way to subtly change the law. And that’s what they expected when they came after David Lopez and the other defendants in SEC v. Spartan Securities Group with a radical reading of the law.

Not this time! Armed with a jury and NCLA attorneys, David was able to beat this Goliath!