On Thursday, March 29, 2018, U.S. District Judge George B. Daniels dismissed the central claims of a U.S. Securities and Exchange Commission lawsuit against defendants Yorkville Advisors, LLC, founder and President Mark Angelo and Chief Financial Officer Edward Schinik. As explained in Reuters, the judge found “‘no material evidence of fraud or negligence’ to support SEC claims that [defendants] inflated asset values.” Law 360 notes that after Yorkville “smack[ed] down SEC fraud claims,” only “a tiny sliver of the original claims” remains.
Smith Villazor LLP and DLA Piper LLP were co-counsel to all defendants.
A copy of the Memorandum Decision and Order is attached.
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