2025-05-23 sec-litreleases pdf 1376 KB 3,446 chars

SEC v. LG CAPITAL FUNDING; and AND JOSEPH I. LERMAN, No. 1:23-cv-14260, Eastern District of New York (May 23, 2025)

raw: SEC v. LG CAPITAL FUNDING

SEC v. LG CAPITAL FUNDING, No. 1:23-cv-14260 (May 23, 2025)

Caption: Securities and Exchange Commission v. LG Capital Funding, LLC, and Joseph I. Lerman, and Daniel Gellman, Boruch Greenberg, and Eli Safdieh

Exhibit of Adam R. Long, et al.; Tri-Bridge Ventures, LLC et al.; LG Capital Funding, LLC, et al.; River North Equity LLC, et al.

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summary

The SEC has dismissed its civil enforcement action against LG Capital Funding, LLC and Joseph I. Lerman with prejudice following a negotiated stipulation.

paragraph

The Securities and Exchange Commission filed a civil enforcement action in June 2022 against LG Capital Funding, LLC, Joseph I. Lerman, and relief defendants Daniel Gellman, Boruch Greenberg, and Eli Safdieh. The litigation, which alleged violations of federal securities laws, was resolved via a Stipulation of Dismissal and Releases. Under the terms of the agreement, the defendants waived all rights to seek reimbursement for attorney's fees or costs from the United States.

narrative

The Securities and Exchange Commission filed a civil enforcement action in June 2022 against LG Capital Funding, LLC, Joseph I. Lerman, and relief defendants Daniel Gellman, Boruch Greenberg, and Eli Safdieh. The litigation addressed alleged misconduct related to violations of federal securities laws. On April 22, 2025, the parties entered into a Stipulation of Dismissal and Releases, resulting in the case being dismissed with prejudice. As part of the settlement, the defendants waived all rights to seek reimbursement for attorney's fees or expenses under the Equal Access to Justice Act or other provisions. Additionally, the defendants released the Commission and its officers from any claims arising from the litigation. The dismissal was finalized without costs or fees to either party and does not reflect the Commission's position on other matters.

Enriched metadata

Scheme: unregistered-securities (50%)
Court: Eastern District of New York
Case No.: 1:23-cv-14260

Classified unregistered-securities(confidence 50%). EDGAR detection: forms Form D/S-1· recall 41% / precision 30%. detection rule →

Extracted insights

Entities 4

person ernest e. badway
person jerome m. selvers
person samuel j. waldon
agency Securities and Exchange Commission

Triples 10

Securities And Exchange Commission filed a Complaint in this civil enforcement action on June 7, 2022
Securities And Exchange Commission believes the dismissal of this case with prejudice is appropriate
Securities And Exchange Commission agrees to have this Litigation dismissed on the terms set forth herein
Securities And Exchange Commission stipulates and agrees 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
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 in any way relate to the Litigation
Defendants waive and release 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
Samuel J. Waldon represents he has the authority to execute this stipulation on behalf of the Securities And Exchange Commission
Ernest E. Badway represents he has the authority to execute this stipulation on behalf of Defendants LG Capital Funding, LLC and Joseph I. Lerman
Suzanne J. Romajas, Brian T. Fitzsimons, Elliot J. Weingarten represent they have the authority to execute this stipulation on behalf of the Securities And Exchange Commission
Jerome M. Selvers represents he has the authority to execute this stipulation on behalf of Relief Defendant Eli Safdieh

PDF

SEC v. LG CAPITAL FUNDING · Source

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Extracted body text (3,446c)

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK

SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,

v.
LG CAPITAL FUNDING, LLC, and
JOSEPH I. LERMAN,
Defendants,
and
DANIEL GELLMAN,
BORUCH GREENBERG, and
ELI SAFDIEH,
Relief Defendants.

Civil Action No. 22-cv-3353

STIPULATION OF DISMISSAL AND RELEASES

Pursuant to Federal Rule of Civil Procedure 41(a)(1)(A)(ii), Plaintiff Securities and Exchange Commission (the “Commission”), Defendants LG Capital Funding, LLC and Joseph I. Lerman, and Relief Defendants Daniel Gellman, Boruch Greenberg, and Eli Safdieh (collectively, the “Defendants”) hereby stipulate and agree as follows:

WHEREAS, the Commission filed a Complaint in this civil enforcement action (the “Litigation”) on June 7, 2022;

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)(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 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.

STIPULATED AND AGREED:

Samuel J. Waldon
Acting Director, Division of Enforcement
SECURITIES AND EXCHANGE COMMISSION
100 F Street, NE
Washington, DC 20549

Ernest E. Badway
Thompson Hine LLP
300 Madison Avenue, 27th Fl.
New York, NY 10017
[email protected]

Counsel for Defendants LG Capital Funding, LLC and, Joseph I. Lerman, and

---

Relief Defendants Daniel Gellman and Baruch Greenberg

Suzanne J. Romajas
Brian T. Fitzsimons
Elliot J. Weingarten
SECURITIES AND EXCHANGE COMMISSION
100 F Street, NE
Washington, DC 20549
[email protected]
[email protected]
[email protected]

Counsel for Plaintiff
Dated: April 22, 2025

Jerome M. Selvers /DJM
Jerome M. Selvers
Dillon McGuire
Pashman Stein Walder Hayden PD
21 Main Street, Ste. 200
Hackensack, NJ 07601

Counsel for Relief Defendant Eli Safdieh
Dated: April 10, 2025

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