Allen Seeks New Trial Over Security Definition | Lubbock News

Joshua Allen, co-founder of Ferrum Capital, is seeking a new trial claiming jury instructions on what constitutes a “security” were flawed—arguing the investments weren’t securities. Prosecutors fiercely oppose, insisting the jury got it right: Ferrum’s offerings were classic investment contracts, and hundreds of victims, many from Lubbock, lost over $67 million. The government says the jury’s verdict was sound and even applied a stricter standard than required. With sentencing looming in December, the judge’s decision on the new trial request remains pending. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b8c14b3c77295d6c