On September 28, 2011, the SEC filed a civil complaint in the United States District Court for the Southern District of New York against an unregistered hedge fund management firm, The NIR Group, LLC (NIR), its sole managing member, Corey Ribotsky, and an NIR analyst, Daryl Dworkin (together, defendants). This article details the allegations in the SEC’s complaint and briefly outlines NIR’s press release in response. See also “New York Appellate Division Dismisses Investors’ Complaint Against Corey Ribotsky and Hedge Fund AJW Qualified Partners, Holding that Fund’s Decision to Suspend Redemptions Did Not Constitute a Breach of the Fund’s Operating Agreement or a Breach of Fiduciary Duty,” Hedge Fund Law Report, Vol. 4, No. 16 (May 13, 2011); “Investors Sue Hedge Fund Managed By N.I.R. Group and Corey Ribotsky in Redemption Dispute,” Hedge Fund Law Report, Vol. 2, No. 32 (Aug. 12, 2009).