On September 5, 2019, the Securities and Exchange Commission (the “SEC”) filed a Complaint in the U.S. District Court for the Northern District of Illinois (the “Court”) against Northridge Holdings, Ltd., Amberwood Holdings L.P., Brookstone Investment Group, Ltd., Eastridge Holdings, Ltd., Guardian Investment Group, Ltd., Southridge Holdings, Ltd. and Unity Investment Group I, Ltd. (collectively the “Northridge Entities”) alleging violations of certain federal securities laws. This litigation (the “Litigation”) is pending before the Honorable John Z. Lee., civil case no. 19-cv-05957.
Subsequently, on September 12, 2019, the Court entered an Order Appointing Receiver (the “Receivership Order”), appointing N. Neville Reid, Esq., not in his individual capacity but solely as the receiver (the “Receiver”) for the assets of the Northridge Entities and certain of their subsidiaries and/or related affiliates (as amended from time to time, collectively, the “Receivership Defendants”, and such assets, the “Receivership Estate”, and such administration, the “Receivership”).
For information regarding the Receivership, please view the following Receivership website: