And in a third case, the judge on Wednesday refused to halt an SEC administrative case accusing Timbervest LLC of concealing unauthorized asset sales and commissions. While noting the constitutional issue, May said Timbervest did not show it faced irreparable harm absent an preliminary injunction.
SEC spokeswoman Judith Burns declined to comment. Terry Weiss, a lawyer for the Gray defendants, was not immediately available for comment.
The cases in the U.S. District Court, Northern District of Georgia, are Gray Financial Group Inc et al v SEC, No. 15-00492; Hill v SEC, No. 15-01801; and Timbervest LLC et al v SEC, No. 15-02106.