While there are elements that support granting a preliminary injunction, the totality of the factors involved in this case necessitates a denial of the requested “extraordinary remedy.” Winter v. Natural Resources Defense Council, Inc., 555 U.S. 7, 24, 129 S. Ct. 365, 172 L.Ed.2d 249 (2008).
Several courts in Texas have used an elevated standard regarding the balance of these factors, even stating that a preliminary injunction should not be granted “unless the party seeking it has clearly carried the burden of persuasion on all four requirements[.
The Court agrees that the Plaintiffs provides several justified arguments that possess a “substantial likelihood of success on the merits.” They include alleged constitutional violations, as well as whether Congress intended to grant the SEC the power to implement the CAT system in this manner.
Lottery Comm’n, 123 F.3d 321, 326 (5th Cir. 1997) (“Preliminary injunctions commonly favor the status quo and seek to maintain things in their initial condition so far as possible until after a full hearing permits final relief to be fashioned.”); see also Starbucks Corp. v. McKinney, 144 S. Ct. 1570, 1576, 219 L. Ed. 2d 99 (2024) (“[A preliminary injunction’s] purpose is merely to preserve the relative positions of the parties until a trial on the merits can be held.”).
Preserving the status quo and maintaining the integrity of some form of a tracking system necessitate denial of this preliminary injunction until proper relief may be fashioned through a final ruling on the merits.