Brent David Willis

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26516 / March 31, 2026

Securities and Exchange Commission v. Brent David Willis., 22-cv-02744 (D. Colo. filed Oct. 18, 2022)

SEC Obtains Consent Judgment as to Former CEO of NewAge, Inc.

On March 25, 2026, the United States District Court for the District of Colorado entered a final consent judgment as to Brent David Willis in the SEC’s civil enforcement action against him.

The SEC’s complaint, filed on October 18, 2022, alleged that from approximately July 2017 through April 2019, Willis, while CEO of NewAge, Inc., made numerous false and misleading public statements in press releases, earnings calls, investor conferences, and interviews, and aided and abetted NewAge’s selective disclosure of material nonpublic information.

Without admitting or denying the allegations in the SEC’s complaint, Willis consented to a final judgment that: (1) permanently enjoins him from violating Sections 17(a)(2) and (a)(3) of the Securities Act of 1933 by, directly or indirectly, making any false or misleading statement, or disseminating any false or misleading documents, materials, or information, concerning matters relating to a decision by an investor or prospective investor to buy or sell securities of any company; (2) permanently enjoins him from aiding and abetting violations of Section 13(a) of the Securities and Exchange Act of 1934 and Regulation FD; (3) orders him to pay a civil monetary penalty of $175,000; and (4) imposes a five-year officer and director bar against him.

The SEC’s litigation was led by Damon Taaffe under the supervision of David Nasse. The SEC’s investigation was conducted by James Bresnicky and Edward Gerard, and supervised by J. Lee Buck, II and Pei Y. Chung.