Civil case
SEC v. Sung Kook (Bill) Hwang, Patrick Halligan, William Tomita, Scott Becker, and Archegos Capital Management, LP
- Authority
- US District Court for the Southern District of New York
- Case number
- 1:22-cv-03402
- Filed or opened
- 27 April 2022
- Organization
- Archegos Capital Management LP
- Current stage
- Civil complaint filed, current status not confirmed as of October 2026S5
- Outcome
- Pending, the current status of the SEC civil action was not confirmed for this reviewS5
Decisions and steps
Claims this case bears on
- Supported86The SEC alleged in April 2022 that Bill Hwang entered into total return swaps with no economic purpose other than to drive up the prices of the underlying stocks.Regulator statement, 27 April 20223 records citedMarket conduct
- Supported82The SEC said Archegos grew to more than US$36 billion in capital with about US$160 billion in market exposure at its peak in March 2021.Regulator statement, 27 April 20222 records citedMarket conduct
Sources
- S2Tier A SEC Charges Archegos and its Founder with Massive Market Manipulation SchemeUS Securities and Exchange Commission. Regulator press release. 27 April 2022.Supports the SEC charges, the swap-based manipulation allegation and the growth and exposure figures. It states allegations, not findings.
- S5Tier A Securities and Exchange Commission v. Sung Kook (Bill) Hwang, et al., ComplaintUS Securities and Exchange Commission. Court filing. 27 April 2022.Supports the case caption 1:22-cv-03402, the US$36 billion capital and US$160 billion gross exposure figures, the use of total return swaps and the billions in counterparty credit losses. It states allegations.