SEC Charges Adit Ventures Management and CEO with Alleged Fraud

Aug 11, 2026 | KLF Blog

On August 10, 2026, the SEC announced that it charged New York-based investment adviser Adit Ventures Management LLC, its CEO Eric Munson (“Munson”), and three affiliated general partners, Adit Ventures LLC; Adit Ventures II LLC; and Adit Ventures III LLC (the “General Partners”), for allegedly defrauding investors and client funds in connection with investments in pre-IPO shares, such as SpaceX and Klarna, including by misappropriating advisory client assets and charging millions in undisclosed fees.

According to the SEC’s complaint, from at least April 2019 through December 2024, the defendants used false claims and promises to persuade investors to contribute capital to Adit-managed funds, including Munson soliciting an investor by falsely claiming that a fund owned shares of stock of a private, pre-IPO company. Allegedly, the defendants regularly used client capital for their own benefit, including by taking unsecured loans from funds on favorable terms, and these transactions were not authorized by fund documents and generally not disclosed to investors.

The complaint also alleges that the defendants violated their fiduciary duties by buying pre-IPO shares and then causing client funds to buy those shares at a higher price, while misrepresenting the true cost of acquiring the shares to investors and without obtaining the requisite consent for these principal transactions; overcharging their client funds millions in unauthorized “acquisition fees”; and improperly pledging client assets as collateral for a $10 million line of credit. 

Munson, Adit Ventures Management, and the General Partners were charged with violating the antifraud provisions of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940. Adit Ventures Management also was charged with violating the registration provisions of the Investment Advisers Act.

Without admitting the allegations in the complaint, the defendants consented to the entry of a judgment, subject to court approval.  The proposed relief includes, among other things, disgorgement with prejudgment interest and a civil penalty in an amount to be determined by the court. Munson also agreed to a forthcoming associational bar against him with a right to apply for reentry after three years.

Source: SEC.gov

About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a nationally-recognized, plaintiff-side class action law firm representing investors and consumers in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, and retirement-plan mismanagement. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.

All representation is provided on a contingency-fee basis, and plaintiffs are not responsible for attorneys’ fees, court costs, or litigation expenses. Any request for attorneys’ fees and expenses will be subject to court approval. 

 

 

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Monarch Casino & Monarch Black Hawk Wage Lawsuit

Aug 10, 2026 | KLF Blog

Worked for Monarch Casino and/or Monarch Black Hawk?

A proposed class and collective action filed on August 3, 2026 alleges that Monarch Casino & Resort, Inc. (“Monarch Casino”) and Monarch Black Hawk, Inc. (“Monarch Black Hawk”) failed to pay certain employees all wages owed under the Fair Labor Standards Act (“FLSA”) and Colorado law.

What Does the Lawsuit Allege?

The complaint alleges that Monarch Casino and Monarch Black Hawk:

  • Used a tip credit without providing all required notices and information;
  • Required tipped employees to participate in an allegedly invalid tip pool that included supervisors working in dual roles;
  • Paid tipped wages for unrelated work or excessive non-tip-producing work;
  • Required employees to purchase certain work clothing without reimbursement;
  • Failed to pay card dealers for pre-shift work, including obtaining tip boxes, attending meetings, and walking to assigned tables or time clocks;
  • Failed to provide or properly pay certain sick leave under the Colorado Healthy Families and Workplaces Act; and
  • Failed to pay certain former employees for earned, unused vacation time when their employment ended.

Who May Be Affected?

The complaint defines the proposed collective and classes as follows:

FLSA Collective: All persons employed by Monarch Casino and/or Monarch Black Hawk in the United States who were paid on an hourly rate basis and whom Monarch Casino and/or Monarch Black Hawk claimed a tip credit at any time during the three-year period prior to the filing of this Complaint, until the entry of judgment.

Tipped Class: All persons employed by Monarch Black Hawk in Colorado who were paid on an hourly rate basis and whom Monarch Black Hawk claimed a tip credit at any time during the three-year period prior to the filing of this Complaint, until the entry of judgment.

Dealer Class: All persons employed by Monarch Black Hawk in Colorado and who were paid on an hourly rate basis and who worked as card dealers at any time during the three-year period prior to the filing of this Complaint, until the entry of judgment.

HFWA Class: All persons employed by Monarch Black Hawk in Colorado at any time during the three-year period prior to the filing of this Complaint, until the entry of judgment.

Vacation Pay Class: All persons employed by Monarch Black Hawk in Colorado who had unused vacation time at the separation of their employment that was not paid by Monarch Black Hawk at any time during the three-year period prior to the filing of this Complaint, until the entry of judgment.

What Does the Lawsuit Seek?

The lawsuit seeks certification of the proposed collective and classes and recovery of unpaid minimum, regular, and overtime wages; reimbursement of illegal or unauthorized deductions, expenses, and costs; withheld tips and allegedly misappropriated funds; liquidated damages; penalties; pre- and post-judgment interest; attorneys’ fees and costs; and other appropriate relief.

To review a copy of the complaint, please click “Monarch Casino and Monarch Black Hawk Wage Lawsuit.”

Questions About the Monarch Casino and Monarch Black Hawk Wage Lawsuit?

If you were employed as an hourly employee by Monarch Casino and/or Monarch Black Hawk and believe you may have been affected by the practices alleged in the complaint, you may contact Kehoe Law Firm, P.C. for a free, no-obligation legal evaluation. 

Michael Yarnoff, Esq.
(215) 792-6676, Ext. 804
[email protected]
[email protected]

About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a nationally-recognized, plaintiffs’ class action law firm representing investors and consumers in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, and retirement-plan mismanagement. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.

All representation is provided on a contingency-fee basis, and plaintiffs are not responsible for attorneys’ fees, court costs, or litigation expenses. Any request for attorneys’ fees and expenses will be subject to court approval. 

 

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Kehoe Law Firm, P.C.
2001 Market Street
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Philadelphia, PA 19103

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First BanCorp Fiduciary Duty Investigation – FBP

Aug 5, 2026 | Investigations

Kehoe Law Firm, P.C. is investigating whether certain officers and directors of First BanCorp. (“First BanCorp” or the “Company”) (NYSE: FBP) may have breached their fiduciary duties or otherwise failed to oversee and manage the Company appropriately. The investigation also concerns whether First BanCorp and its shareholders may have been harmed as a result.

If you currently own First BanCorp common stock, you may have rights in connection with this investigation.

What Is the Investigation About?

The investigation concerns allegations regarding banking services allegedly provided to Jeffrey Epstein, as well as First BanCorp’s oversight, compliance, and corporate governance.

On June 24, 2026, a plaintiff identified as Jane Doe filed a putative class action lawsuit against First BanCorp, alleging that the bank participated in and financially benefited from Jeffrey Epstein’s sex-trafficking operation.

Kehoe Law Firm is evaluating whether the Company’s officers and directors breached their fiduciary duties in connection with these matters and whether corporate-governance reforms or other relief may be appropriate for First BanCorp.

First BanCorp Shareholders May Have Legal Claims

Current First BanCorp shareholders who wish to learn more about the investigation and their potential legal rights are encouraged to contact the firm by completing Kehoe Law Firm’s Stockholder Information Request Form or contacting:

Michael Yarnoff, Esq.
(215) 792-6676, Ext. 804
[email protected]
[email protected]

There is no cost or obligation to speak with the firm. Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, and clients are not responsible for any fees or litigation expenses.

 

 

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About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.

Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.

Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.

SEND US A MESSAGE

Contact Us

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Kehoe Law Firm, P.C.
2001 Market Street
Suite 2500
Philadelphia, PA 19103

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Tel: 215-792-6676

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[email protected]

The Ensign Group Fiduciary Duty Investigation – ENSG

Aug 5, 2026 | Investigations

Kehoe Law Firm, P.C. is investigating whether certain officers and directors of The Ensign Group, Inc. (“Ensign,” “Ensign Group,” or the “Company”) (NASDAQ: ENSG) may have breached their fiduciary duties or otherwise failed to oversee and manage the Company appropriately. The investigation also concerns whether Ensign Group and its shareholders may have been harmed as a result.

If you currently own Ensign common stock, you may have rights in connection with this investigation.

What Is the Investigation About?

The investigation concerns allegations regarding Ensign Group’s oversight of its skilled nursing facilities, regulatory compliance, and Medicare and Medicaid billing.

On June 11, 2026, short seller Muddy Waters Research published a report concerning Ensign Group. The report stated that Muddy Waters “. . . conclude[d] that Ensign engages in a systematic scheme at an estimated ~20% of Skilled Nursing Facilities (SNFs) to rent the licenses of Administrators who are not generally present at, nor actually managing, the facilities.”

Muddy Waters stated that it “. . . believe[d] this scheme, which could amount to fraud against states, Medicare, and Medicaid, is the pillar upon which Ensign’s acquisition strategy and margins is built.”

Additionally, the report stated that “[u]nder the False Claims Act, if these practices have been in place for one year at ~20% of facilities, [Muddy Waters] estimate[d] the violations carry theoretical sanctions in the billions of dollars.”

Kehoe Law Firm is evaluating whether the Company’s officers and directors breached their fiduciary duties in connection with these matters and whether corporate governance reforms or other relief may be appropriate for Ensign Group.

Ensign Group Shareholders May Have Legal Claims

Current Ensign Group shareholders who wish to learn more about the investigation and their potential legal rights are encouraged to contact the firm by completing Kehoe Law Firm’s Stockholder Information Request Form or contacting:

Michael Yarnoff, Esq.
(215) 792-6676, Ext. 804
[email protected]
[email protected]

There is no cost or obligation to speak with the firm. Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, and clients are not responsible for any fees or litigation expenses.

 

 

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About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.

Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.

Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.

SEND US A MESSAGE

Contact Us

ADDRESS

Kehoe Law Firm, P.C.
2001 Market Street
Suite 2500
Philadelphia, PA 19103

PHONE

Tel: 215-792-6676

EMAIL

[email protected]

ADMA Biologics Fiduciary Duty Investigation – ADMA

Aug 5, 2026 | Investigations

Kehoe Law Firm, P.C. is investigating whether certain officers and directors of ADMA Biologics, Inc. (“ADMA,” “ADMA Biologics,” or the “Company”) (NASDAQ: ADMA) may have breached their fiduciary duties or otherwise failed to oversee and manage the Company appropriately. The investigation also concerns whether ADMA Biologics and its shareholders may have been harmed as a result.

If you currently own ADMA Biologics common stock, you may have rights in connection with this investigation.

What Is the Investigation About?

The investigation concerns allegations regarding ADMA Biologics’ reported growth, distribution practices, related-party disclosures, and corporate oversight.

In March 2026, short seller Culper Research published a report alleging, among other things, channel stuffing and an undisclosed related-party distributor. 

On May 6, 2026, ADMA Biologics reported that increased competition, aggressive pricing tactics, and higher inventory across the distribution network affected its first-quarter results, particularly BIVIGAM. 

Kehoe Law Firm is evaluating whether the Company’s officers and directors breached their fiduciary duties in connection with these matters and whether corporate-governance reforms or other relief may be appropriate for ADMA Biologics.

ADMA Biologics Shareholders May Have Legal Claims

Current ADMA Biologics shareholders who wish to learn more about the investigation and their potential legal rights are encouraged to contact the firm by completing Kehoe Law Firm’s Stockholder Information Request Form or contacting:

Michael Yarnoff, Esq.
(215) 792-6676, Ext. 804
[email protected]
[email protected]

There is no cost or obligation to speak with the firm. Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, and clients are not responsible for any fees or litigation expenses.

 

 

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About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.

Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.

Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.

SEND US A MESSAGE

Contact Us

ADDRESS

Kehoe Law Firm, P.C.
2001 Market Street
Suite 2500
Philadelphia, PA 19103

PHONE

Tel: 215-792-6676

EMAIL

[email protected]