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The SEC and defendant Eric J. Dalius will resume mediation, according to a Joint Notice filed on June 2nd.

This would seem to be Dalius’ final opportunity to settle and escape possible severe punishments in court because the Saivian fraud trial is due to begin in September 2022.

In June or July, Dalius and the SEC had planned to resume mediation. However, owing to schedule issues between Dalius and his lawyer, they were unable to do so.

The parties and mediator are therefore accessible in “early August.”

The parties have been advised that “an order confirming the Parties’ August 5 mediation will be issued shortly,” according to the Joint Notice.

The Saivian fraud case’s initial attempts at mediation fell short in July.

according to the Joint Notice;

The Parties have had fruitful settlement negotiations throughout the case.

The substantial progress the Parties have made through their informal settlement discussions as well as the additional discovery concluded since the last attempt at mediation provides a basis for their optimism that they will be able to resolve these last-minute issues through mediation, even though there are still several issues that need to be resolved if the Parties are to settle.

Going to trial isn’t expected to go well for Dalius and co-defendant Ryan Evans (right), as Saivian was an evident Ponzi scheme through which they committed securities fraud.

I’ll keep an eye on the court docket for developments on the settlement. Failing which, I assume the September 20th trial date still stands.

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