The agency is seeking disgorgement of illegal gains and unspecified fines.
The state seeks penalties and restitution, as well as a court order requiring the firm to honor redemption requests by investors and prohibiting Hicks from engaging in investment- related activities for 10 years.
The Connecticut case is Pitkin v. Southridge Capital Management, Connecticut Superior Court (Hartford). The federal case is Securities and Exchange Commission v. Southridge Capital Management, U.S. District Court, 3:10-cv-01685, District of Connecticut (New Haven).