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Texas Attorney General Ken Paxton is the next Republican official to beat one of these political witch hunts. The U.S. Securities and Exchange Commission brought civil charges against him in April for encouraging investors to back technology company Servergy Inc., without disclosing his financial arrangement with the company. The owner of the company had given Paxton $100,000 in shares of stock as a gift. While there are laws requiring those in the financial industry to disclose some of these types of relationships, there is nothing requiring regular Americans to do so, especially if there is no "quid pro quo."U.S. District Court Judge Amos Mazzant III, who was appointed by Obama, threw out the charges last week, writing, "This case is not about whether Paxton had a moral obligation to disclose his financial arrangement with Servergy to potential investors. This case is also not about whether Paxton had some general obligation to disclose his financial arrangement to his investor group. The only issue before the Court is to determine whether the facts as pleaded give rise to a plausible claim under federal securities laws."
