“Legal triumph?” – Documents paint a more nuanced picture in the Heit case

An article marked as an advertisement speaks of a “legal triumph.” However, official documents from the USA, case files, and the actual sequence of events during the service of the Frankfurt ruling paint a far more complex picture.

“Legal triumph” – that’s how a paid article in the Braunschweiger Zeitung describes a ruling by the Frankfurt Regional Court. But a look at official documents from the USA paints a far more complex picture.

The text did not appear as an editorial piece, but as an advertisement and is based on a press release from the law firm Irle Moser. It is therefore public relations material from a party to the proceedings, not independent journalistic research.

Regulatory background in the USA

Parallel to the civil disputes in Germany, regulatory proceedings also exist in the United States. Several documents from the Texas State Securities Board (TSSB) provide insight into this context.

In March 2025, the authority initially issued an Emergency Cease and Desist Order against several parties. This order alleged potential violations of securities laws.

When asked, Jeramy E. Heintz, Director of the Enforcement Division of the Texas State Securities Board, confirmed the background of the proceedings. In a written statement, he explained:

Written information from the Texas State Securities Board in response to an inquiry from the editorial staff.
Jeramy E. Heintz,The director of the Enforcement Division explains that the matter is ” mostly due to jurisdictional issues were resolved.

The corresponding order was later rescinded as part of a settlement. The documents at hand also state that this settlement does not constitute an acknowledgment of the original allegations.

Between PR presentation and the available documentation

The available documents thus present a picture that is significantly more complex than the portrayal of a clear legal triumph conveyed in the advertisement.

While the paid article in the Braunschweiger Zeitung conveys the impression of a clear legal triumph, the available procedural documents paint a far more complex picture . Official documents from the USA document regulatory proceedings, settlement agreements, and merely suspended proceedings.

Furthermore, a letter from the Frankfurt Regional Court indicates that an earlier attempt to serve the decision abroad failed to return receipt and that the decision was only later transmitted informally.
(Letter from the Frankfurt am Main Regional Court dated November 25, 2025).

The significance of these circumstances in the further course of the legal dispute will likely be the subject of further legal proceedings.

Conclusion

The documents presented above all demonstrate one thing: the situation is more complex than the portrayal of a “legal triumph” would suggest.

While the paid article in Braunschweig gives the impression of a clear legal success , official documents from the USA paint a much more differentiated picture – with regulatory measures, settlement agreements and proceedings that are still suspended.

A final assessment of the underlying processes is therefore still pending.

Furthermore, the decision of the Frankfurt Regional Court was only recently served on us. Based on this decision, we are currently examining further legal options and, if necessary, initiating appropriate legal action.

To improve transparency, we are making the most important documents from the proceedings fully available below, so that readers can form their own opinion based on the original documents.

Notice

This article is based on publicly available documents, official records, and editorial analysis.
It serves to inform the public and is protected by the freedom of the press and expression guaranteed by Article 5 of the German Basic Law (GG) , Article 10 of the European Convention on Human Rights (ECHR) , and Article 85 of the General Data Protection Regulation (GDPR ). Facts and opinions have been carefully separated and clearly marked.

Sources

1. Texas State Securities Board (TSSB): Order Setting Aside Emergency Order , Order No. ENF-25-CDO-1891, July 31, 2025.
2. Texas State Securities Board – Enforcement Division: Motion for Dismissal from the Docket of SOAH , filed July 31, 2025.
3. State Office of Administrative Hearings (SOAH): Order of Dismissal , Docket Nos. 312-25-12674; 312-25-17445; 312-25-17541.
4. State Office of Administrative Hearings (SOAH): Joint Motion to Stay Proceeding , Docket No. 312-25-13515.
5. State Office of Administrative Hearings (SOAH): Order Granting Stay of Proceeding , Docket No. 312-25-13515.
6. State Office of Administrative Hearings (SOAH): Joint Scheduling Order , July 1, 2025, Docket No. 312-25-13515.
7. State Office of Administrative Hearings (SOAH): Joint Status Report , filed October 6, 2025, Docket No. 312-25-13515.
8. State Office of Administrative Hearings (SOAH): Joint Status Report , filed December 10, 2025, Docket No. 312-25-13515.
9. State Office of Administrative Hearings (SOAH): Joint Status Report and Joint Motion to Extend Stay of Proceeding , filed February 5, 2026, Docket No. 312-25-13515.
10. State Office of Administrative Hearings (SOAH): Case File / Procedural Record , Docket No. 312-25-13515.
11. Letter from the Frankfurt am Main Regional Court regarding case 2-03 O 315/25 (November 25, 2025)