SEC Sues ADT for Selling “Unregistered Home Security”
Continuing to squeeze the trigger in a recent series of rapid-fire lawsuits, the U.S. Securities and Exchange Commission (SEC) filed court documents Thursday against home protection company ADT for “clearly selling unregistered security.”
“I mean, it's been right there on their signs for years,” said an SEC spokesperson to XRP_Productions reporters. “Home security. Wow. These guys really have some balls. Well, the SEC is here once again to do the work of the people and shut this nonsense down.”
An ADT representative “brazenly selling home security with no regard for his duty to file with us,” as described by the SEC in court filings Thursday.
The litigious move comes as no surprise to many, including worldwide holders of the decentralized digital asset XRP, which has been massively affected by an ongoing SEC lawsuit against blockchain payments company Ripple after the Silicon Valley firm had sold their holdings of the asset to various entities for over eight years.
“They're suing ADT for home security, eh?” said XRP holder Leonard Mingus of Cheyenne, Wyoming. “Yup... it figures. Kiss my ass, SEC.”