# SEC Litigation Release LR-25302

> Civil enforcement action · —

## Defendants

David Schottenstein, Kris Bortnovsky, Ryan Shapiro, Sakal Capital Management, LLC, and Sakal U.S. Fund

## Related filings

SEC Complaint


## Key facts

- **Release number:** LR-25302
- **Release date:** —
- **Defendants:** David Schottenstein, Kris Bortnovsky, Ryan Shapiro, Sakal Capital Management, LLC, and Sakal U.S. Fund

## Primary sources

- SEC HTML release: https://www.sec.gov/litigation/litreleases
- Litigation releases index: https://www.sec.gov/litigation/litreleases

## What this is

SEC Litigation Releases are the canonical "civil enforcement" docket. The SEC files civil actions in federal court against individuals and entities for securities-law violations — fraud, insider trading, Ponzi schemes, registration violations, misleading disclosures, market manipulation. Each release announces a filing, a settlement, or a final judgment. Activist funds, plaintiff lawyers, and investigative journalists use this archive as the most-comprehensive index of US securities enforcement.

## Citation

> US Securities and Exchange Commission, Litigation Release LR-25302 (), David Schottenstein, Kris Bortnovsky, Ryan Shapiro, Sakal Capital Management, LLC, and Sakal U.S. Fund. Retrieved via AI Analytics 2026-07-16 from https://api.ai-analytics.org/sec-litigation/25302.

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*[SEC litigation releases dataset](/datasets/sec-litigation-releases) · CC0 1.0*