SEC v. Suyun Gu; and Yong Lee, No. 1:21-cv-17578, District of New Jersey (July 21, 2025) — Complaint
raw: Comp26355
Comp26355, No. 1:21-cv-17578 (July 21, 2025)
The SEC filed a complaint in U.S. District Court for the District of New Jersey (Case 1:21-cv-17578) alleging securities fraud and seeking civil monetary penalties under Sections 20(d) of the Securities Act and 21(d) of the Exchange Act, with a demand for final judgment and jury trial.
The U.S. Securities and Exchange Commission filed a complaint on September 27, 2021, in the U.S. District Court for the District of New Jersey (Case 1:21-cv-17578) alleging securities fraud by unnamed defendants. The complaint seeks a Final Judgment directing defendants to pay civil monetary penalties pursuant to Section 20(d) of the Securities Act and Section 21(d) of the Exchange Act, and demands a jury trial on all triable issues. The filing also requests such further relief as the Court may deem just and proper.
The U.S. Securities and Exchange Commission filed a complaint on September 27, 2021, in the U.S. District Court for the District of New Jersey (Case 1:21-cv-17578) alleging securities fraud by unnamed defendants. The complaint seeks a Final Judgment directing defendants to pay civil monetary penalties pursuant to Section 20(d) of the Securities Act and Section 21(d) of the Exchange Act, and demands a jury trial on all triable issues. The filing also requests such further relief as the Court may deem just and proper. The document includes standard procedural certifications under Local Rule 11.2 and designates the U.S. Attorney for the District of New Jersey as an agent for service of process due to the SEC's lack of a local office. While the specific parties and exact dollar amounts of the penalties are not detailed in this excerpt, the filing represents the SEC's formal enforcement action seeking financial penalties and further relief from the court. The case remains an active SEC enforcement proceeding seeking civil monetary penalties under the specified statutory sections.
Extracted insights
- person Suyun Gu ×2
- person Yong Lee ×2
- person Andrew R. McFall
- person James P. Connor
III. Enter a Final Judgment directing Defendants to pay civil monetary penalties pursuant to Section 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and Section 21(d) of the Exchange Act [15 U.S.C. § 78u(d)]; IV. Grant such other and further relief as this Court may deem just and proper. DEMAND FOR JURY TRIAL Pursuant to Rule 38 of the Federal Rules of Civil Procedure, the Commission demands trial by jury in this action of all issues so triable. Dated: September 27, 2021 Respectfully submitted, s/ James P. Connor James P. Connor (D.C. Bar No. 981684) Andrew R. McFall (D.C. Bar No. 497878) UNITED STATES SECURITIES AND EXCHANGE COMMISSION 100 F Street, NE Washington, DC 20549 Phone: (202) 551-8394 (Connor) LOCAL RULE 11.2 CERTIFICATION Pursuant to Local Rule 11.2, I certify that the matter in controversy alleged in the foregoing Complaint is not the subject of any other action pending in any court, or of any pending arbitration or administrative proceeding. DESIGNATION OF AGENT FOR SERVICE Pursuant to Local Rule 101.1(f), because Plaintiff Securities and Exchange Commission does not have an office in this district, the United States Attorney for the District of New Jersey is hereby designated as an alternative to the Commission to receive service of all notices or papers in the captioned action. Therefore, service upon the United States Attorney’s Office or its authorized designee: David E. Dauenheimer Deputy Chief, Government Fraud Unit United States Attorney’s Office District of New Jersey 970 Broad Street, Suite 700 Newark, NJ 07102-2534 shall constitute service upon the Commission for purposes of this action. Dated: September 27, 2021 Respectfully submitted, s/ James P. Connor James P. Connor (D.C. Bar No. 981684) Andrew R. McFall (D.C. Bar No. 497878) UNITED STATES SECURITIES AND EXCHANGE COMMISSION 100 F Street, NE Washington, DC 20549 Phone: (202) 551-8394 (Connor) Email: [email protected] (Connor) 23
III. Enter a Final Judgment directing Defendants to pay civil monetary penalties pursuant to Section 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and Section 21(d) of the Exchange Act [15 U.S.C. § 78u(d)]; IV. Grant such other and further relief as this Court may deem just and proper. DEMAND FOR JURY TRIAL Pursuant to Rule 38 of the Federal Rules of Civil Procedure, the Commission demands trial by jury in this action of all issues so triable. Dated: September 27, 2021 Respectfully submitted, s/ James P. Connor James P. Connor (D.C. Bar No. 981684) Andrew R. McFall (D.C. Bar No. 497878) UNITED STATES SECURITIES AND EXCHANGE COMMISSION 100 F Street, NE Washington, DC 20549 Phone: (202) 551-8394 (Connor) Email: [email protected] (Connor) Case 1:21-cv-17578 Document 1 Filed 09/27/21 Page 22 of 23 PageID: 22 LOCAL RULE 11.2 CERTIFICATION Pursuant to Local Rule 11.2, I certify that the matter in controversy alleged in the foregoing Complaint is not the subject of any other action pending in any court, or of any pending arbitration or administrative proceeding. 22 Case 1:21-cv-17578 Document 1 Filed 09/27/21 Page 23 of 23 PageID: 23 DESIGNATION OF AGENT FOR SERVICE Pursuant to Local Rule 101.1(f), because Plaintiff Securities and Exchange Commission does not have an office in this district, the United States Attorney for the District of New Jersey is hereby designated as an alternative to the Commission to receive service of all notices or papers in the captioned action. Therefore, service upon the United States Attorney’s Office or its authorized designee: David E. Dauenheimer Deputy Chief, Government Fraud Unit United States Attorney’s Office District of New Jersey 970 Broad Street, Suite 700 Newark, NJ 07102-2534 shall constitute service upon the Commission for purposes of this action. Dated: September 27, 2021 Respectfully submitted, s/ James P. Connor James P. Connor (D.C. Bar No. 981684) Andrew R. McFall (D.C. Bar No. 497878) UNITED STATES SECURITIES AND EXCHANGE COMMISSION 100 F Street, NE Washington, DC 20549 Phone: (202) 551-8394 (Connor) Email: [email protected] (Connor) 23