SEC v. RIVER NORTH EQUITY, No. 1:23-cv-14260, Northern District of Illinois (May 23, 2025)
raw: SEC v. RIVER NORTH EQUITY
SEC v. RIVER NORTH EQUITY, No. 1:23-cv-14260 (May 23, 2025)
summary
The SEC and defendant Michael A. Chavez agreed to dismiss Count VIII of a civil enforcement action with prejudice, provided Chavez waived all claims and fee reimbursement rights related to that count.
paragraph
The Securities and Exchange Commission and Michael A. Chavez entered a stipulation to dismiss Count VIII of their litigation with prejudice. While the document does not disclose specific monetary amounts, it confirms the dismissal of allegations related to the conduct in that count. As part of the agreement, Chavez waived all rights to seek attorney's fees or pursue claims against the Commission regarding Count VIII.
narrative
In the civil enforcement action SEC v. River North Equity, LLC, et al., the Securities and Exchange Commission and defendant Michael A. Chavez have agreed to dismiss Count VIII of the complaint with prejudice. This dismissal covers the conduct alleged in that specific count through the date of the stipulation and involves no costs or fees for either party. In exchange, Chavez waived all rights to seek reimbursement for legal fees under the Equal Access to Justice Act or other provisions related to Count VIII. Additionally, Chavez released the Commission and its officers from any claims arising from the investigation or litigation of that count. The agreement does not impact the SEC's remaining claims against Chavez in Count VII, nor does it affect claims against other defendants in the case. Chavez represented himself pro se in the execution of this agreement.
Classified unregistered-securities(confidence 50%). EDGAR detection: forms Form D/S-1· recall 41% / precision 30%. detection rule →
Parties
Securities & Exchange CommissionAdam R. LongOasis Capital, LLCL2 Capital, LLC
Keywords
commissionsecurities exchangeexchange commissionsecclaimsagainstriver northnorth equitywhereas commissionclaims againstsecuritiesexchangelitigationwhereasenforcement
Extracted insights
Entities 4
- person Michael a. Chavez
- person robert m. moye
- agency Securities and Exchange Commission
- organization Securities and Exchange Commission
Triples 9
- Securities And Exchange Commission filed Complaint
- Securities And Exchange Commission believes dismissal of claims
- Securities And Exchange Commission seeks dismissal of claims
- Securities And Exchange Commission agrees dismissal of claim in Count Viii
- Michael a. Chavez waives rights under Equal Access to Justice Act
- Michael a. Chavez releases claims against Securities And Exchange Commission
- Securities And Exchange Commission dismisses claim in Count Viii
- Robert M. Moye represents Securities And Exchange Commission
- Michael a. Chavez executes stipulation
Text layers
Extracted body text (3,571c)
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. RIVER NORTH EQUITY, LLC, et al., Defendants. Case No. 19-cv-1711 Judge Sunil R. Harjani Magistrate Keri L. Holleb Hotaling STIPULATION TO DISMISS AND RELEASE By agreement of the parties, Plaintiff Securities and Exchange Commission (“the Commission”) and Defendant Michael A. Chavez (“Defendant”) hereby stipulate and agree as follows: WHEREAS, the Commission filed a Complaint in this civil enforcement action (the “Litigation”) on March 11, 2019, stating various claims against the Defendant, among other parties. WHEREAS, in the exercise of its discretion and as a policy matter, the Commission believes the dismissal of certain of these claims is appropriate; WHEREAS, the Commission’s decision to seek dismissal of certain of these claims does not necessarily reflect the Commission’s position on any other case, and, further, does not reflect or impact the Commission’s position on its remaining claim against Defendant in this case in Count VII, or the Commission’s claims against other parties in this case besides the Defendant; and WHEREAS, the Commission and the Defendant agree that the claim against Defendant in Count VIII of the Complaint should be dismissed. --- NOW, THEREFORE, 1. The Commission and the Defendant stipulate and agree that the claims against the Defendant in Count VIII of the Complaint shall be dismissed, with prejudice as to the conduct alleged in that count of the Complaint through the date of the filing of this Stipulation, and without costs or fees to either party. 2. Defendant, for himself and any of his 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 that in any way relate to Count VIII of the Complaint in 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 Count VIII of the Complaint in this 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]) Alyssa A. Qualls ([email protected]) Richard G. Stoltz ([email protected]) Christine S. Bautista ([email protected]) U.S. Securities and Exchange Commission Chicago Regional Office 175 West Jackson Blvd., Suite 1450 Chicago, IL 60604 (312) 353-7390 Samuel J. Waldon Acting Director, Division of Enforcement Antonia M. Apps Acting Deputy Director, Division of Enforcement U.S. Securities and Exchange Commission 100 F. Street, NE Washington, DC 20549 (202) 551-4500 Counsel for Plaintiff, U.S. Securities and Exchange Commission Michael A. Chavez ([email protected]) 6650 Spicewood Springs Road Suite 145-572 Austin, Texas 78759 (512) 689-7787 Pro se
OCR text (3,571c · tika+glm · 85% conf)
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. RIVER NORTH EQUITY, LLC, et al., Defendants. Case No. 19-cv-1711 Judge Sunil R. Harjani Magistrate Keri L. Holleb Hotaling STIPULATION TO DISMISS AND RELEASE By agreement of the parties, Plaintiff Securities and Exchange Commission (“the Commission”) and Defendant Michael A. Chavez (“Defendant”) hereby stipulate and agree as follows: WHEREAS, the Commission filed a Complaint in this civil enforcement action (the “Litigation”) on March 11, 2019, stating various claims against the Defendant, among other parties. WHEREAS, in the exercise of its discretion and as a policy matter, the Commission believes the dismissal of certain of these claims is appropriate; WHEREAS, the Commission’s decision to seek dismissal of certain of these claims does not necessarily reflect the Commission’s position on any other case, and, further, does not reflect or impact the Commission’s position on its remaining claim against Defendant in this case in Count VII, or the Commission’s claims against other parties in this case besides the Defendant; and WHEREAS, the Commission and the Defendant agree that the claim against Defendant in Count VIII of the Complaint should be dismissed. --- NOW, THEREFORE, 1. The Commission and the Defendant stipulate and agree that the claims against the Defendant in Count VIII of the Complaint shall be dismissed, with prejudice as to the conduct alleged in that count of the Complaint through the date of the filing of this Stipulation, and without costs or fees to either party. 2. Defendant, for himself and any of his 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 that in any way relate to Count VIII of the Complaint in 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 Count VIII of the Complaint in this 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]) Alyssa A. Qualls ([email protected]) Richard G. Stoltz ([email protected]) Christine S. Bautista ([email protected]) U.S. Securities and Exchange Commission Chicago Regional Office 175 West Jackson Blvd., Suite 1450 Chicago, IL 60604 (312) 353-7390 Samuel J. Waldon Acting Director, Division of Enforcement Antonia M. Apps Acting Deputy Director, Division of Enforcement U.S. Securities and Exchange Commission 100 F. Street, NE Washington, DC 20549 (202) 551-4500 Counsel for Plaintiff, U.S. Securities and Exchange Commission Michael A. Chavez ([email protected]) 6650 Spicewood Springs Road Suite 145-572 Austin, Texas 78759 (512) 689-7787 Pro se