In a dramatic twist to the Covington SEC suit, Covington & Burling LLP has decided to bite the bullet. The law firm announced it won’t challenge a court order that dictates revealing certain client names to the U.S. Securities and Exchange Commission (SEC), stemming from a 2020 cyber breach. However, as the plot thickens, one client isn’t ready to back down, hinting at taking the appeal route, according to the latest court document released Monday.
The Heart of the Matter
U.S. District Court Judge Amit Mehta, giving his nod to an agreement between Covington and the SEC, affirmed his earlier decision. This July verdict demanded Covington to unveil the identities of seven clients out of nearly 300 that the SEC was probing into.
In an intriguing move, the law firm informed the court that six clients gave their nod to share their names, with a condition that SEC shields them from the public’s prying eyes. The pendulum of decision, however, hangs on the seventh client who seems poised to stir the waters with an appeal.
