The US Securities and Exchange Commission (SEC) has announced that it will not refile its securities fraud complaint against Hex founder Richard Schueler, also known as Richard Heart.
In a letter sent April 21 to New York District Court Judge Carol Bagley Amon, SEC attorney Matthew Gulde stated:
"Plaintiff Securities and Exchange Commission provides this notice that it does not intend to file an amended complaint in this matter."
The court had previously dismissed the SEC's original complaint on Feb. 28, as Judge Amon ruled that the regulator had not established jurisdiction over Heart's actions, which were not specifically targeted at US investors.
The SEC was granted leave to amend the complaint by March 20, with an extension until April 21.