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McCloskey, Monks and Bruff Obtain Investigation Termination and Declination of Enforcement Action from the SEC

January 29, 2021

Michael McCloskey (Partner- San Diego) and San Diego associates Sean Monks and Drew Bruff represented a Denver area manufacturer of antimicrobial products designed to disinfect and promote wound healing. The client was under investigation by the Department of Justice and the Securities and Exchange Commission, targeting its business operations, including its manufacturing processes and representations made to investors to raise operating capital. The SEC assumed the lead in the investigation, begun almost two years ago, when Mike, Sean and Drew were engaged to represent the company. The team made a detailed presentation to the SEC and tied it to an-depth timeline of events supported by shareholder letters, PPMs, scientific studies and lab reports on the products at issue. Subsequent document productions and further witness interviews by the SEC took place, and the SEC requested a statute of limitations tolling agreement. After defending witness interviews and providing written responses to questions, the team’s clients received a letter from the SEC terminating its investigation and declining to recommend an enforcement action be filed.

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