SEC Discloses Security Breach in NCLA's Cochran Case

NCLA Executive Director and General Counsel Mark Chenoweth joins Real America's Voice to discuss SEC's recent security breach in SEC v. Cochran and the agency's investigation into Tesla CEO Elon Musk.

The U.S. Securities and Exchange Commission (SEC) has disclosed that its enforcement staff accessed documents in at least two adjudicatory matters currently in litigation in federal court, including SEC v. Michelle Cochran. NCLA represents Ms. Cochran in a lawsuit challenging the constitutionality of SEC’s in-house Administrative Law Judges (ALJs), who enjoy multiple layers of protection from removal by President Biden. In December 2021, the en banc U.S. Court of Appeals for the Fifth Circuit ruled in favor of Ms. Cochran, declaring that she has the right to challenge the constitutionality of her ALJ’s removal protections in federal court before undergoing an administrative adjudication.