SEC v. Pinnacle Advisors, LLC; Robert F. Cuculich; Benjamin R. Quilty; Mark E. Wadach; and Lawton A. Williamson, No. LR-26347, Northern District of New York (July 11, 2025) — Press Release
raw: Pinnacle Advisors, LLC; Robert F. Cuculich; Benjamin R. Quilty; Mark E. Wadach; and Lawton A. Williamson
Pinnacle Advisors, LLC; Robert F. Cuculich; Benjamin R. Quilty; Mark E. Wadach; and Lawton A. Williamson, No. 5:23-cv-00547-FJS (July 11, 2025)
The SEC dismissed its civil enforcement action against Pinnacle Advisors, LLC and four principals with prejudice through a joint stipulation.
The SEC filed a joint stipulation to dismiss the litigation against Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, and Lawton A. Williamson. Although specific fraud amounts were not detailed in the dismissal, the action was resolved in the Northern District of New York. The Commission exercised its discretion to dismiss the case with prejudice as a matter of policy.
The U.S. Securities and Exchange Commission has dismissed its civil enforcement action against Pinnacle Advisors, LLC and four individuals: Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, and Lawton A. Williamson. The dismissal was achieved through a joint stipulation filed in the Northern District of New York. The Commission determined that dismissing the litigation with prejudice was appropriate as a matter of policy and discretion. While the initial filing addressed regulatory violations, the specific dollar amounts and exact nature of the fraud were not explicitly detailed in the dismissal announcement. This resolution concludes the current litigation without necessarily impacting the Commission's stance on other cases. The dismissal with prejudice ensures that this specific enforcement action cannot be refiled.
Extracted insights
- person Benjamin R. Quilty
- person Lawton a. Williamson
- person Mark E. Wadach
- organization Pinnacle Advisors, LLC
- person Robert F. Cuculich
- Securities And Exchange Commission Announces Dismissal Of Civil Enforcement Action Against Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, And Lawton a. Williamson
- Securities And Exchange Commission Filed Joint Stipulation With Defendants Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, And Lawton a. Williamson To Dismiss The Commission’s Ongoing Civil Enforcement Action
- Commission Determined Dismissal Of This Action Is Appropriate
- Commission’s Decision Does Not Reflect Commission’s Position On Any Other Case
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26347 / July 11, 2025 Securities and Exchange Commission v. Pinnacle Advisors, LLC, et al., Case No. 5:23-cv-00547-FJS-MJK (N.D.N.Y. filed May 5, 2023). SEC Announces Dismissal of Civil Enforcement Action Against Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, and Lawton A. Williamson The Securities and Exchange Commission today filed a joint stipulation with Defendants Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, and Lawton A. Williamson to dismiss, with prejudice, the Commission’s ongoing civil enforcement action against them. In the exercise of its discretion and as a policy matter, the Commission determined that the dismissal of this action is appropriate. Furthermore, as stated in the joint stipulation, “the Commission’s decision to seek dismissal of this Litigation with prejudice does not necessarily reflect the Commission’s position on any other case.”
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26347 / July 11, 2025 Securities and Exchange Commission v. Pinnacle Advisors, LLC, et al., Case No. 5:23-cv-00547-FJS-MJK (N.D.N.Y. filed May 5, 2023). SEC Announces Dismissal of Civil Enforcement Action Against Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, and Lawton A. Williamson The Securities and Exchange Commission today filed a joint stipulation with Defendants Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, and Lawton A. Williamson to dismiss, with prejudice, the Commission’s ongoing civil enforcement action against them. In the exercise of its discretion and as a policy matter, the Commission determined that the dismissal of this action is appropriate. Furthermore, as stated in the joint stipulation, “the Commission’s decision to seek dismissal of this Litigation with prejudice does not necessarily reflect the Commission’s position on any other case.”