The following excerpt is from S.E.C. v. Burnett Grey & Co., Inc., 8 F.3d 29 (9th Cir. 1993):
Appellants also charge that the complaint fails to plead sufficient facts concerning a "threat of future wrongdoing" to state a claim for permanent injunctive relief. We find that the complaint sufficiently alleges a likelihood of future violations by appellants; allegations of appellants' past violations create a persuasive inference that they will violate security laws in the future. SEC v. Murphy, 626 F.2d 633, 655 (9th Cir.1980)
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