Additional Information for Ironbridge Asset Fund 2, LLC

The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved.  We are providing a summary of the government's allegations, which have not yet been proven.  

On February 4, 2020 The Texas State Securities Board indicted Brett Pittsenbargar for directly and through agents, and through his companies, Ironbridge Asset Fund, LLC, and Ironbridge Asset Fund 2, LLC, for selling and offering securities committed fraud by failing to disclose Mr. Pittsenbargar, along with Woodbridge Mortgage Investment Fund 3, LLC, its principal Robert Shapiro, and others, was named in an Emergency Cease and Desist Order by the Texas State Securities Board for intentionally failing to disclose the Massachusetts Securities Division entered an administrative order on May 4, 2015 in the matter of Woodbridge Mortgage Investment Fund 1, LLC, Woodbridge Mortgage Investment Fund 2, LLC, and Woodbridge Mortgage Investment Fund 3, LLC.  

It is alleged Pittsenbargar intentionally failed to disclose investor funds were used to purchase investments with the Woodbridge Group of Companies, LLC and its affiliates.  It is also alleged Pittsenbarger intentionally failed to disclose Pittsenbargar was the sole principal of Ironbridge Asset Fund, LLC and Ironbridge Asset Fund 2, LLC.  Intentionally failed to disclose Pittsenbarger filed for chapter 7 bankruptcy in the US Bankruptcy Court, District of Colorado. 

Pittsenbargar continued to obtain $100,000 or more after filing for Bankruptcy.  

The matter is pending.  For more details go to https://www.ssb.texas.gov/sites/default/files/Indictment_SecFraud_D1DC19900152.pdf.

https://www.ssb.texas.gov/sites/default/files/Indictment_SecFraud_D1DC19900152.pdf