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Naidich Wurman LLP Responds to SEC Complaint on Behalf of Power Up Lending Group Ltd., Geneva Roth Remark Holdings, Inc., 1800 Diagonal Lending, LLC, and Curt Kramer

NEW YORK, May 7, 2024 /PRNewswire/ — Naidich Wurman LLP, counsel for Power Up Lending Group Ltd., Geneva Roth Remark Holdings, Inc., 1800 Diagonal Lending, LLC, and Curt Kramer, responded to a complaint filed by the SEC today.

The SEC’s charges are unfounded and we will vigorously contest them.

The SEC, including some of the same SEC attorneys involved in this investigation, has known for more than a decade of Mr. Kramer’s funding of small public companies and never once suggested that this required registering as a dealer. And that’s because Mr. Kramer was not required to do so – instead, the SEC, in violation of Mr. Kramer’s due process rights, has attempted to rewrite a 90-year-old statute to try to destroy firms that lend to small public companies and thereby deprive small public companies of the critical financing they need to grow their businesses. We agree with SEC Commissioners Hester Peirce and Mark Uyeda that the SEC’s attempt to redefine dealer registration requirements “obliterates” decades of law and is “arbitrary and even tyrannical.”

“We are surprised and disappointed that the SEC would bring this action based on loans that the SEC itself reviewed and approved,” said Curt Kramer, the owner of Power Up Lending and other related lenders. “I look forward to the testimony of the SEC attorneys who for more than a decade have known about my funding of small public companies. I’m confident that, after the recent resignation of two SEC enforcement attorneys for making false statements in Court, the SEC attorneys in this case will feel compelled to tell the truth under oath – that they never believed that my lending activity required registration, and that the SEC’s current position is an unfair and unconstitutional bait-and-switch.”

Media Contact:
Power Up Lending’s litigation counsel Marshall R. King, Gibson Dunn & Crutcher LLP; 212-351-3905; [email protected]

SOURCE NAIDICH WURMAN LLP

Originally published at https://www.prnewswire.com/news-releases/naidich-wurman-llp-responds-to-sec-complaint-on-behalf-of-power-up-lending-group-ltd-geneva-roth-remark-holdings-inc-1800-diagonal-lending-llc-and-curt-kramer-302138775.html
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