A federal court has sent the SEC's fraud case against Saivian to mediation after seven months without significant movement, delaying the trial and putting depositions on hold.

On May 3rd, lawyers for both sides filed a joint motion requesting a stay in the case against the company and its executives. The court approved it two days later, signaling that settlement talks might offer a faster resolution than a courtroom battle.

Court documents from May 5th show that discovery—the process where both sides exchange evidence—is largely wrapped up. But key depositions still need to happen. Defendants Eric J. Dalius and Ryan Moran Evans haven't been deposed yet, nor have Saivian's corporate representatives. The court also plans to question Brad Dalius and potentially Eric Dalius' wife, though neither is formally named as a defendant.

Kimberly Dalius, who was initially named as a relief defendant in the SEC's case, was dismissed back in early 2019 through a settlement agreement with regulators.

The two sides had already been talking informally about settling their differences, but those discussions went nowhere. Mediation represents a last attempt before heading to trial. The November 2021 trial date that was previously scheduled has been cancelled. Any depositions tied to the defendants are now frozen until mediation concludes.

A hearing set for June 7th will determine whether the entire case should be stayed while the parties pursue settlement talks.

By early June, progress seemed possible. On June 9th, the court scheduled a settlement conference for June 28th, suggesting both sides were willing to negotiate face-to-face.

That optimism proved short-lived. After mediation proceedings collapsed, the court set a new trial date for September 2022—pushing the case more than a year into the future.

🤖 Quick Answer

What is the current status of the SEC fraud case against Saivian?
A federal court has ordered the case into mediation following seven months of stalled proceedings. Both parties filed a joint motion on May 3rd requesting a stay, approved two days later, temporarily halting trial preparations and depositions while settlement negotiations proceed.

Which key figures in the Saivian case remain undeposed?
Eric J. Dalius and Ryan Moran Evans, along with Saivian's corporate representatives, have not yet given depositions. The court also intends to question Brad Dalius and potentially Eric Dalius' wife as part of ongoing discovery procedures.

What discovery progress has been made in the case?
Court documents indicate that the discovery process—where both parties exchange evidence—is largely complete as of May 5th. However, critical depositions remain outstanding before trial proceedings can advance further.

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