SEC v. LONG, No. 1:23-cv-14260, Northern District of Illinois (May 23, 2025)
raw: SEC v. ADAM R. LONG
SEC v. ADAM R. LONG, No. 1:23-cv-14260 (May 23, 2025)
summary
The SEC and defendants Adam R. Long, L2 Capital, LLC, and Oasis Capital, LLC agreed to dismiss a civil enforcement action with prejudice.
paragraph
The Securities and Exchange Commission filed a civil enforcement action against Adam R. Long, L2 Capital, LLC, and Oasis Capital, LLC, on September 28, 2023. The parties have entered into a stipulation to dismiss the litigation with prejudice without costs or fees to either party. As part of the agreement, the defendants waived all rights to seek reimbursement for attorney's fees or legal expenses from the United States.
narrative
The Securities and Exchange Commission filed a civil enforcement action against Adam R. Long, L2 Capital, LLC, and Oasis Capital, LLC, on September 28, 2023. Following the litigation, the SEC and the defendants entered into a formal stipulation to dismiss the case with prejudice. This dismissal prevents the defendants from relitigating the same claims and was agreed upon without the assessment of costs or fees to either party. Under the terms of the agreement, the defendants waived all rights to seek reimbursement for attorney's fees or investigative expenses from the United States. Additionally, the defendants released all claims and causes of action against the Commission and its officers arising from the litigation. The SEC noted that this decision to dismiss does not reflect its position on any other cases.
Classified non-corporate(confidence 95%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Parties
Securities & Exchange CommissionAdam R. LongOasis Capital, LLCL2 Capital, LLC
Keywords
commissionadam longlitigationsecurities exchangeexchange commissionllccapitallong capitaloasis capitalwhereas commissionadamlongsecsecuritiesexchange
Extracted insights
Entities 13
- person adam r. long
- person Heather McShain
- organization Hunter Taubman Fischer & Li LLC
- person Jenny Johnson-Sardella
- organization L2 Capital, LLC
- person Mark David Hunter
- organization Oasis Capital, LLC
- person Regina LaMonica
- person robert m. moye
- agency Securities and Exchange Commission
- person Sunil R. Harjani
- organization United States District Court Northern District Of Illinois Eastern Division
- organization United States Securities And Exchange Commission
Triples 5
- Securities And Exchange Commission filed a Complaint in this civil enforcement action on September 28, 2023
- Securities And Exchange Commission believes the dismissal of this case with prejudice is appropriate
- Securities And Exchange Commission agrees to have this Litigation dismissed with prejudice as to the conduct alleged in the Complaint through the date of the filing of this Stipulation
- Defendants waive and release 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 reimbursement of attorney's fees or other fees, expenses, or costs expended by Defendants that relate to the Litigation
- Defendants waive and release any and all claims, demands, rights, and causes of action against the Commission and its present and former officers or employees that arise from or relate to the Litigation
PDF
Text layers
Extracted body text (3,149c)
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. ADAM R. LONG, L2 CAPITAL, LLC, and OASIS CAPITAL, LLC, Defendants. Case No. 23-cv-14260 District Judge Sunil R. Harjani Magistrate Judge Heather McShain STIPULATION TO DISMISS AND RELEASE Pursuant to Rule 41(a)(1)(A)(ii) of the Federal Rules of Civil Procedure, Plaintiff Securities and Exchange Commission (“the Commission”) and Defendants Adam R. Long, L2 Capital, LLC and Oasis Capital, LLC (collectively “Defendants”) hereby stipulate and agree as follows: WHEREAS, the Commission filed a Complaint in this civil enforcement action (the “Litigation”) on September 28, 2023; WHEREAS, in the exercise of its discretion and as a policy matter, the Commission believes the dismissal of this case with prejudice 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)(l)(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 Defendant[s] 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. [signatures on next page] --- STIPULATED AND AGREED: Robert M. Moye ([email protected]) Regina LaMonica ([email protected]) U.S. Securities and Exchange Commission Chicago Regional Office 175 West Jackson Blvd., Suite 1450 Chicago, IL 60604 (312) 353-1051 Counsel for Plaintiff, U.S. Securities and Exchange Commission Mark David Hunter ([email protected]) Jenny Johnson-Sardella ([email protected]) Hunter Taubman Fischer & Li LLC 848 Brickell Avenue, Suite 200 Miami, FL 33131 (305) 629-1180 Counsel for Defendants, Adam R. Long, L2 Capital, LLC, and Oasis Capital, LLC
OCR text (3,149c · tika+glm · 85% conf)
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. ADAM R. LONG, L2 CAPITAL, LLC, and OASIS CAPITAL, LLC, Defendants. Case No. 23-cv-14260 District Judge Sunil R. Harjani Magistrate Judge Heather McShain STIPULATION TO DISMISS AND RELEASE Pursuant to Rule 41(a)(1)(A)(ii) of the Federal Rules of Civil Procedure, Plaintiff Securities and Exchange Commission (“the Commission”) and Defendants Adam R. Long, L2 Capital, LLC and Oasis Capital, LLC (collectively “Defendants”) hereby stipulate and agree as follows: WHEREAS, the Commission filed a Complaint in this civil enforcement action (the “Litigation”) on September 28, 2023; WHEREAS, in the exercise of its discretion and as a policy matter, the Commission believes the dismissal of this case with prejudice 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)(l)(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 Defendant[s] 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. [signatures on next page] --- STIPULATED AND AGREED: Robert M. Moye ([email protected]) Regina LaMonica ([email protected]) U.S. Securities and Exchange Commission Chicago Regional Office 175 West Jackson Blvd., Suite 1450 Chicago, IL 60604 (312) 353-1051 Counsel for Plaintiff, U.S. Securities and Exchange Commission Mark David Hunter ([email protected]) Jenny Johnson-Sardella ([email protected]) Hunter Taubman Fischer & Li LLC 848 Brickell Avenue, Suite 200 Miami, FL 33131 (305) 629-1180 Counsel for Defendants, Adam R. Long, L2 Capital, LLC, and Oasis Capital, LLC