As per a Joint Discover filed on June 2nd, the SEC and defendant Eric J. Dalius will return to mediation.
With the Saivian fraud trial scheduled for September 2022, this is able to look like the final change for Dalius to settle and keep away from doubtlessly harsher penalties in court docket.
Dalius and the SEC had supposed to return to mediation throughout June or July. They have been unable to take action although on account of scheduling conflicts between Dalius and his lawyer.
Consequently the events and mediation Choose can be found in “early August”.
The Joint Discover states the events have been knowledgeable “an order confirming the Events’ August 5 mediation will probably be issued shortly.”
Preliminary makes an attempt to mediate the Saivian fraud case failed final July.
As per the Joint Discover;
All through the litigation, the Events have engaged in productive settlement discussions.
Whereas a lot of further points should be resolved if the Events are to achieve a settlement, the substantial progress the Events have made by way of their casual settlement discussions in addition to the extra discovery concluded because the final try at mediation gives a foundation for his or her optimism that they are going to be capable of resolve these remaining points by way of mediation.
Given Saivian was an apparent Ponzi scheme, by way of which Dalius and co-defendant Ryan Evans (proper) dedicated securities fraud by way of, going to trial isn’t more likely to finish nicely for them.
I’ll proceed to watch the case docket for settlement updates. Failing which, I imagine the September twentieth trial date nonetheless stands.