The Delaware Department of Justice’s Investor Protection Unit has scored a significant legal victory after the state’s highest court ruled in its favor.
The Delaware Supreme Court affirmed the Superior Court’s earlier dismissal of a case brought by Swan Energy, Inc., Brandon Davis, John Schiffner, and Cody Davis against the Investor Protection Unit of the Delaware Department of Justice.
The case had challenged the authority of the Investor Protection Unit — a division within the Department of Justice — to conduct hearings. With this ruling, the Supreme Court has made clear that the unit holds that authority, a decision the department is describing as a landmark opinion.
The Investor Protection Unit was the party that originally initiated the proceedings at the center of the dispute, which ultimately led to the legal challenge now resolved by the state’s Supreme Court.
