On February 14, 2022, the Honorable Chief Judge Philip A. Brimmer of the United States District Court for the District of Colorado entered a preliminary injunction against defendant Cell>Point, L.L.C. ("Cell>Point"); Cell>Point's subsidiaries, including Cell Theranostics, Inc. and Cell Theranostics Ltd.; defendant CFO Terry A. Colip; and defendant CEO Greg R. Colip, in connection with their allegedly fraudulent misstatements and omissions to investors.

The SEC's complaint, filed on June 10, 2021, alleges that Cell>Point--a Colorado radiopharmaceutical company--and the Colips fraudulently offered and sold approximately $10 million in securities to at least 151 investors.

On November 24, 2021, the SEC filed a motion for preliminary injunction and other relief, alleging the defendants continued to engage in fraudulent conduct after the SEC initiated the enforcement action in June 2021. In support of its motion, among other things, the SEC alleged that the defendants continued to solicit Cell>Point investors with false and misleading statements about how the investors' money would be used, and claims of purported imminent investment financing for an alleged initial public offering.

Following an evidentiary hearing held on January 25, 2022, the court ordered that, pending further action of the court, the defendants are enjoined from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934, as well as Rule 10b-5 thereunder. In particular, the court ruled that the SEC had proved that the "defendants made material misrepresentations and omissions with scienter," in violation of the Securities Act and Exchange Act, and that the SEC "ha[d] successfully made a substantial showing of a likelihood of future violations." The court further held there was "no necessity for an asset freeze in this case," stating, "defendants do not currently have any significant assets that could be frozen."

The SEC's complaint continues to seek permanent injunctions, disgorgement of all ill-gotten gains plus prejudgment interest, and civil penalties against Cell>Point, Terry Colip, and Greg Colip. The SEC's complaint also seeks officer and director bars against the Colips.

The SEC's litigation is led by Mark Williams and Zachary Carlyle, with supervision by Gregory Kasper. The SEC's investigation was conducted by Kevin Comeau, Ty Cottrill, and Anne Romero with assistance from Judy Bizu. The investigation was supervised by Laura Metcalfe.