enthused08

🚨 $MMTLP — FINRA RESPONDS TO WILLIAM KELLY’S APPEAL ⚖️ 📅 FILED: November 6, 2026 🏛️ U.S. Court of Appeals — Ninth Circuit 📁 Kelly v. FINRA • Appeal No. 26-5634 📄 FINRA’s Answering Brief • Docket Entry 8.1 ❤️ For shareholders and families supporting William Kelly’s effort to obtain accountability, here’s what FINRA is arguing. ‼️ THIS IS NOT A FINAL RULING. This is FINRA asking the appeals court to uphold the dismissal of Kelly’s lawsuit over its handling of MMTLP and the December 2022 trading halt. 🔎 WHAT IS FINRA SAYING? 🛡️ “OUR REGULATORY ACTIONS ARE PROTECTED.” FINRA argues that announcing the corporate action and halting trading were regulatory functions covered by absolute regulatory immunity—a legal shield against these claims. 🚧 “KELLY DOESN’T HAVE A RIGHT TO SUE US UNDER THESE RULES.” FINRA argues that the laws and rules Kelly cites do not provide an individual right to bring these claims against it. 📉 “THE FRAUD CLAIM DOESN’T MEET THE REQUIREMENTS.” FINRA says Kelly has not sufficiently explained the alleged fraud or his reliance on it. It also argues that retaining his shares, rather than purchasing or selling in reliance on the alleged misinformation, prevents this particular securities-fraud claim. 🏢 “WE ARE NOT THE GOVERNMENT.” FINRA argues that it is a private organization, not a government actor, so Kelly’s Fifth Amendment claim cannot proceed against it. 🚫 “ANOTHER REWRITE WON’T FIX THE CASE.” FINRA asks the court to uphold the denial of another opportunity to amend Kelly’s complaint, arguing these barriers would remain. 💔 WHY THIS IS SO FRUSTRATING: Shareholders want answers about what happened to their investment. FINRA’s response argues that legal protections and limits on these claims prevent Kelly from obtaining relief through this lawsuit. ⚖️ Those are FINRA’s positions. The appeals court must decide whether the dismissal should stand. Filing this response does not mean FINRA has won the appeal. ❤️ Support for Kelly continues as he pursues that challenge. 📎 FINRA’s full response is attached, along with its front page. ⚠️ Not legal advice. dropbox.com/scl/fi/kq0p7pnsa…