Southridge Investment Group LLC and Registered Affiliates Not Subject of State of Connecticut and SEC Allegations

Oct 26, 2010, 12:45 ET from Southridge Investment Group LLC

RIDGEFIELD, Conn., Oct. 26 /PRNewswire/ -- Southridge Investment Group LLC, a registered broker dealer, along with its affiliated registered investment advisors, Southridge Asset Management LLC and Double Alpha Group LLC, are not the subject of the action by the State of Connecticut and the Securities and Exchange Commission (SEC) against Southridge Capital Management LLC, et. al.

"Our affiliates named in yesterday's complaints plan to defend the actions vigorously and are confident that the evidence will conclusively demonstrate that the actions filed against them are without merit," said Robert Wolf, an Attorney for Southridge Investment Group.

The allegations in the respective complaints against Southridge Capital Management LLC, which lack merit and substance, are isolated and do not involve the brokerage firm of Southridge Investment Group nor the SEC registered investment advisory firms, Southridge Asset Management LLC, and Double Alpha Group LLC, all of which will continue all current operations and service to their client base.

SOURCE Southridge Investment Group LLC