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Federal judge tosses SEC suit against Texas AG Paxton
KXANA federal judge on Thursday dismissed claims by the U.S. government that Texas Attorney General Ken Paxton fraudulently duped wealthy investors before taking office, giving the Republican a key victory two months ahead of his criminal trial that carries a possible prison sentence.
Paxton, who has spent most of his two years as attorney general under felony indictment, has now twice prevailed over accusations by the U.S. Securities and Exchange Commission that he had a duty to tell investors he was being paid by a high-tech Texas startup while recruiting more than $840,000 from them.
The dismissal of the civil lawsuit brought by federal regulators has no bearing on Paxton’s criminal trial that is scheduled to begin in May near Dallas.