Pinnacle Advisors, LLC; Robert F. Cuculich; Benjamin R. Quilty; Mark E. Wadach; and Lawton A. Williamson

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26347 / July 11, 2025

Securities and Exchange Commission v. Pinnacle Advisors, LLC, et al., Case No. 5:23-cv-00547-FJS-MJK (N.D.N.Y. filed May 5, 2023).

SEC Announces Dismissal of Civil Enforcement Action Against Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, and Lawton A. Williamson

The Securities and Exchange Commission today filed a joint stipulation with Defendants Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, and Lawton A. Williamson to dismiss, with prejudice, the Commission’s ongoing civil enforcement action against them.

In the exercise of its discretion and as a policy matter, the Commission determined that the dismissal of this action is appropriate. Furthermore, as stated in the joint stipulation, “the Commission’s decision to seek dismissal of this Litigation with prejudice does not necessarily reflect the Commission’s position on any other case.”