Litigation Releases (Nader Al-Naji, Buse Desticioğlu Al-Naji, Joumana Bahouth Al-Naji, Intangible Holdings, LLC, Firestorm Media, LLC, Viridian City, LLC, and DeSo Foundation)

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26499 / March 12, 2026

Securities and Exchange Commission v. Al-Naji, Case No. 1:24-cv-05738-JAV (S.D.N.Y. filed July 30, 2024)

SEC Announces Dismissal of Civil Enforcement Action Against Nader Al-Naji and Relief Defendants

The Securities and Exchange Commission today filed a joint stipulation with Defendant Nader Al-Naji and Relief Defendants Buse Desticioğlu Al-Naji, Joumana Bahouth Al-Naji, Intangible Holdings, LLC, Firestorm Media, LLC, Viridian City, LLC, and DeSo Foundation to dismiss, with prejudice, the Commission's civil enforcement action against them.

As stated in the joint stipulation, the Commission's decision to exercise its discretion and seek dismissal of this litigation is based on the particular facts and circumstances of this case and "does not necessarily reflect the Commission's position on any other case."