SEC v. AUCTUS FUND MANAGEMENT; LOUIS POSNER; and AND ALFRED SOLLAMI, No. 1:20-cv-05227, District of Massachusetts (June 18, 2025)
raw: SEC v. AUCTUS FUND MANAGEMENT
SEC v. AUCTUS FUND MANAGEMENT, No. 1:20-cv-05227 (June 18, 2025)
summary
The SEC and defendants Auctus Fund Management, Louis Posner, and Alfred Sollami agreed to dismiss their civil enforcement action with prejudice.
paragraph
The Securities and Exchange Commission filed a civil enforcement action against Auctus Fund Management, LLC, Louis Posner, Alfred Sollami, and Auctus Fund LLC on June 1, 2023. The parties entered into a stipulation to dismiss the litigation with prejudice regarding the conduct alleged in the complaint. The agreement stipulates that the dismissal is made without costs or fees to either party.
narrative
The Securities and Exchange Commission filed a civil enforcement action on June 1, 2023, against Auctus Fund Management, LLC, Louis Posner, Alfred Sollami, and relief defendant Auctus Fund LLC. The litigation, which involved allegations of misconduct, has now been dismissed with prejudice through a formal stipulation. Under the terms of the agreement, the dismissal is made without costs or fees awarded to either party. As part of the resolution, the defendants waived all rights to seek reimbursement for attorney's fees or legal expenses from the United States. Additionally, the defendants released all claims and causes of action against the Commission and its officers related to this litigation. This dismissal concludes the specific conduct alleged in the complaint through the date of the stipulation.
Classified non-corporate(confidence 92%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Parties
Securities and Exchange CommissionAuctus Fund Management, LLCLouis PosnerAnd Alfred SollamiAuctus Fund LLCAuctus Fund Management
Keywords
commissionauctus fundlitigationfund managementsecurities exchangeexchange commissionauctusfundwhereas commissionwhereassecmanagementsecuritiesexchangellc
Extracted insights
Entities 6
- organization Defendants
- person Defendants
- person Marshall R. King
- person samuel j. waldon
- agency Securities and Exchange Commission
- organization Securities and Exchange Commission
Triples 9
- Securities And Exchange Commission filed Complaint
- Defendants filed answer to Complaint
- Securities And Exchange Commission believes dismissal of case with prejudice
- Securities And Exchange Commission seeks dismissal of Litigation
- Defendants waive rights under Equal Access to Justice Act
- Defendants release claims against Securities And Exchange Commission
- Samuel J. Waldon represents Securities And Exchange Commission
- Marshall R. King represents Defendants
- Securities And Exchange Commission dismissed Litigation with prejudice
Text layers
Extracted body text (3,334c)
UNITED STATES DISTRICT COURT DISTRICT OF MASSACHUSETTS SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. AUCTUS FUND MANAGEMENT, LLC, LOUIS POSNER, and ALFRED SOLLAMI, Defendants, and AUCTUS FUND LLC, Relief Defendant. 1:23-cv-11233-AK STIPULATION TO DISMISS AND RELEASES Pursuant to Federal Rule of Civil Procedure 41(a)(1)(A)(ii), Plaintiff Securities and Exchange Commission (the “Commission”) and Defendants Auctus Fund Management, LLC, Louis Posner, and Alfred Sollami, and Relief Defendant Auctus Fund LLC (collectively, the “Defendants”) hereby stipulate and agree as follows: WHEREAS, the Commission filed a Complaint in this civil enforcement action (the “Litigation”) on June 1, 2023; WHEREAS, on August 16, 2024, Defendants filed their answer to the Complaint; WHEREAS, in the exercise of its discretion and as a policy matter, the Commission believes the dismissal of this case with prejudice as to the conduct alleged in the Complaint through the date of the filing of this Stipulation, and without costs or fees to either party, is appropriate; --- WHEREAS, the Commission’s decision to seek dismissal of this Litigation does not necessarily reflect the Commission’s position on any other case; and WHEREAS, the Commission and the Defendants agree to have this Litigation dismissed on the terms set forth herein. NOW, THEREFORE, 1. Pursuant to Fed. R. Civ. P. 41(a)(1)(A)(ii), the Commission and the Defendants stipulate and agree that this Litigation shall be dismissed with prejudice as to the conduct alleged in the Complaint through the date of the filing of this Stipulation, and without costs or fees to either party. 2. Defendants, for themselves and any of their agents, attorneys, employees, or representatives, hereby waive and release: a. Any and all rights under the Equal Access to Justice Act, the Small Business Regulatory Enforcement Fairness Act of 1996, or any other provision of law to seek from the United States, or any agency, or any official of the United States acting in his or her official capacity, directly or indirectly, reimbursement of attorney’s fees or other fees, expenses, or costs expended by Defendants that in any way relate to the Litigation, including, but not limited to, investigative steps taken prior to commencing the Litigation. b. Any and all claims, demands, rights, and causes of action of every kind and nature, asserted or unasserted, against the Commission and its present and former officers or employees that arise from or in any way relate to the Litigation, including, but not limited to, investigative steps taken prior to commencing the Litigation. 3. Each of the undersigned represents that they have the authority to execute this stipulation on behalf of the party so indicated. --- STIPULATED AND AGREED: Samuel J. Waldon Acting Director, Division of Enforcement Antonia M. Apps Acting Deputy Director, Division of Enforcement SECURITIES AND EXCHANGE COMMISSION 100 F Street, NE Washington, DC 20549 Marshall R. King GIBSON, DUNN & CRUTCHER LLP 200 Park Avenue New York, NY 10166-0193 [email protected] Counsel for Defendants Dated: March 12, 2025 Rua M. Kelly Michael C. Moran SECURITIES AND EXCHANGE COMMISSION 33 Arch Street, 24th Floor Boston, MA 02110 [email protected] [email protected] Counsel for Plaintiff Dated: June 18, 2025
OCR text (3,334c · tika+glm · 85% conf)
UNITED STATES DISTRICT COURT DISTRICT OF MASSACHUSETTS SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. AUCTUS FUND MANAGEMENT, LLC, LOUIS POSNER, and ALFRED SOLLAMI, Defendants, and AUCTUS FUND LLC, Relief Defendant. 1:23-cv-11233-AK STIPULATION TO DISMISS AND RELEASES Pursuant to Federal Rule of Civil Procedure 41(a)(1)(A)(ii), Plaintiff Securities and Exchange Commission (the “Commission”) and Defendants Auctus Fund Management, LLC, Louis Posner, and Alfred Sollami, and Relief Defendant Auctus Fund LLC (collectively, the “Defendants”) hereby stipulate and agree as follows: WHEREAS, the Commission filed a Complaint in this civil enforcement action (the “Litigation”) on June 1, 2023; WHEREAS, on August 16, 2024, Defendants filed their answer to the Complaint; WHEREAS, in the exercise of its discretion and as a policy matter, the Commission believes the dismissal of this case with prejudice as to the conduct alleged in the Complaint through the date of the filing of this Stipulation, and without costs or fees to either party, is appropriate; --- WHEREAS, the Commission’s decision to seek dismissal of this Litigation does not necessarily reflect the Commission’s position on any other case; and WHEREAS, the Commission and the Defendants agree to have this Litigation dismissed on the terms set forth herein. NOW, THEREFORE, 1. Pursuant to Fed. R. Civ. P. 41(a)(1)(A)(ii), the Commission and the Defendants stipulate and agree that this Litigation shall be dismissed with prejudice as to the conduct alleged in the Complaint through the date of the filing of this Stipulation, and without costs or fees to either party. 2. Defendants, for themselves and any of their agents, attorneys, employees, or representatives, hereby waive and release: a. Any and all rights under the Equal Access to Justice Act, the Small Business Regulatory Enforcement Fairness Act of 1996, or any other provision of law to seek from the United States, or any agency, or any official of the United States acting in his or her official capacity, directly or indirectly, reimbursement of attorney’s fees or other fees, expenses, or costs expended by Defendants that in any way relate to the Litigation, including, but not limited to, investigative steps taken prior to commencing the Litigation. b. Any and all claims, demands, rights, and causes of action of every kind and nature, asserted or unasserted, against the Commission and its present and former officers or employees that arise from or in any way relate to the Litigation, including, but not limited to, investigative steps taken prior to commencing the Litigation. 3. Each of the undersigned represents that they have the authority to execute this stipulation on behalf of the party so indicated. --- STIPULATED AND AGREED: Samuel J. Waldon Acting Director, Division of Enforcement Antonia M. Apps Acting Deputy Director, Division of Enforcement SECURITIES AND EXCHANGE COMMISSION 100 F Street, NE Washington, DC 20549 Marshall R. King GIBSON, DUNN & CRUTCHER LLP 200 Park Avenue New York, NY 10166-0193 [email protected] Counsel for Defendants Dated: March 12, 2025 Rua M. Kelly Michael C. Moran SECURITIES AND EXCHANGE COMMISSION 33 Arch Street, 24th Floor Boston, MA 02110 [email protected] [email protected] Counsel for Plaintiff Dated: June 18, 2025