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With the SEC, NewAge has resolved breaches of the Securities and Exchange Act.

NewAge agreed to a halt and desist as required by a court order dated October 19.

The activities of former CEO Brent David Willis (right), whom the SEC separately sued on October 18, are connected to NewAge’s breaches.

Willis’ falsehoods from 2017 to 2019 are covered in full in the article that is referenced above.

To cut a long tale short, Willis was deceived regarding beverage distribution arrangements that benefited NewAge financially.

Willis’ actions on behalf of (NewAge) caused (NewAge) to break both the Securities Act and the Exchange Act.

The stop and desist issued by NewAge is non-monetary, establishing a separation between the actions of Willis and those of NewAge as an organization.

The Commission took into account the corrective actions taken by the Respondent and the cooperation provided to the Commission staff when deciding whether to accept the Offer.

In addition, NewAge’s stop and desist also states that they “commit to attending and be interrogated by Commission employees” in connection with the SEC’s lawsuit against Willis. This covers NewAge employees and “third-party consultants within its control” and includes depositions and subpoenas.

It remains to be seen whether or how this will factor into Willis’ complaint.

In September 2022, NewAge filed for Chapter 11 bankruptcy. It is anticipated that the business will eventually emerge from bankruptcy under John R. Wadsworth’s new ownership.

Noni by NewAge and Ariix is MLM businesses that are run by NewAge.

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