rReceiver’s distribution plan of insufficient funds to repay investors, following the SEC’s enforcement action against an investment firm

Sec. & Exch. Comm’n v. Wealth Mgmt. LLC, 09-4090, concerned a challenge to the district court’s approval of a receiver’s proposal to distribute diminished assets to investors on a pro rata basis and imposing a cutoff date after which any redemption distributions would be offset against the investor’s total distribution, in the Securities and Exchange Commission’s (SEC) enforcement action against a Wisconsin-based investment firm and its principals alleging a host of securities law violations arising from the failure of the firm’s six unregistered investment vehicles - similar to hedge funds - for investing in unconventional and illiquid assets.

 

Related Link:

  • Read the Seventh Circuit’s Full Decision in Sec. & Exch. Comm’n v. Wealth Mgmt. LLC, 09-4090

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