https://www.siliconvalley.com/2024/12/22/san-diego-judge-issues-rare-acquittal-of-pair-in-securities-fraud-case/

A federal judge in San Diego has acquitted two businessmen who were charged with securities fraud, ruling prosecutors failed to come up with convincing evidence against the pair, who were among four men charged with allegedly running an illegal pump-and-dump scheme.

U.S. District Judge Cynthia Bashant ruled that on at least one of the charges, “the government’s theories are all over the place,” according to a transcript of a Dec. 2 hearing.