SEC Commissioner Caroline Crenshaw criticized the SEC for adopting legal positions inconsistent with those taken earlier, damaging its credibility in court

Quotes that support claims

“In the meantime, the settlement joins a line of dismissals that collectively erode the credibility of our lawyers in court who are being asked to take legal positions today contrary to the ones taken just months ago.”

She also warned the move damages the SEC’s credibility, noting its lawyers "are being asked to take legal positions today contrary to the ones taken just months ago.”