SEC v. Brian Robert Sodi, et al. (newsletter scalping, 2023)

Judgment entered

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In 2023, the SEC announced an amended final judgment in the Northern District of Alabama against Brian Robert Sodi and his companies Capital Financial Media LLC and List Data Solutions LLC over scalping and pump-and-dump promotion of two penny stocks in 2013. It orders $929,995 in combined disgorgement and interest for distribution to harmed investors; Sodi pleaded guilty in a parallel criminal case.

The record

What was ordered

Civil penalty

—

Disgorgement

$930k

Prejudgment interest

—

Total relief

$930k

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Securities and Exchange Commission announced this matter on March 14, 2023 as litigation release 25665. The defendants are Brian Robert Sodi, a CPA, and his companies Capital Financial Media LLC and List Data Solutions LLC. The complaint alleged Mr Sodi secretly acquired shares of two companies and sold them while his companies disseminated recommendations to buy, without disclosing his holdings or sales. The 2019 settlement carried $1,268,000 in combined disgorgement and interest, offset by criminal forfeiture and restitution, and Sodi was ordered to pay $338,056 in forfeiture. The amended final judgment of January 31, 2023 replaces that with $929,995 in combined disgorgement and prejudgment interest payable to the Commission. The record previously showed the superseded $1,268,000 as disgorgement and $929,995 as interest; the current figure is one combined amount.

This library tags the matter as newsletter scalping, pump and dump, based on the conduct the document describes. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The relief recorded in our data is disgorgement of $929,995. Penalty and disgorgement are distinct: disgorgement returns the gain, while the penalty is punitive. We store them separately so that aggregate figures across the library are not double-counted.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Newsletter scalping — see how it works, what statute it engages, and every other action tagged the same way.
• Pump and dump — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2023-03-14 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.