SEC v. Joseph R. Earle Jr, Barry D. Reagh, William Clayton, Francis T. Dudley, Steven E. Bryant, Upper Street Marketing, Inc. and Project Growth International, Inc. (boiler rooms, 2022)

Status unknown

Machine-extracted, pending human review. The structured fields on this page were parsed automatically from the regulator's own release, linked below. Read the primary document before relying on any figure here, and tell us if something is wrong.

In 2022, the Securities and Exchange Commission brought an action against Joseph R. Earle Jr, Barry D. Reagh, William Clayton, Francis T. Dudley, Steven E. Bryant, Upper Street Marketing, Inc. and Project Growth International, Inc., alleging conduct this library classifies as boiler rooms and pump and dump. The release does not state a monetary figure that we were able to extract.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-25586
Date filed	2022-12-05
Court	U.S. District Court, Southern District of California
Status	unknown
Asset class	equities
Criminal parallel	No
Bars imposed	penny stock bar
Defendants	Joseph R. Earle Jr, Barry D. Reagh, William Clayton, Francis T. Dudley, Steven E. Bryant, Upper Street Marketing, Inc. (entity) ; Project Growth International, Inc. (entity)
Techniques	Boiler rooms , Pump and dump

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
Alleged gain: —

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Securities and Exchange Commission announced this matter on December 5, 2022 as release LR-25586. The respondents named are Joseph R. Earle Jr, Barry D. Reagh, William Clayton, Francis T. Dudley, Steven E. Bryant, Upper Street Marketing, Inc. and Project Growth International, Inc. (0 individuals, 2 entities). The action was brought in the U.S. District Court, Southern District of California.

This library tags the matter as boiler rooms and pump and dump, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The conduct is recorded against equities.

Non-monetary relief recorded: penny stock bar.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

Boiler rooms — see how it works, what statute it engages, and every other action tagged the same way.
Pump and dump — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

2022-12-05 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Other actions in the library sharing at least one technique tag with this one.

Action	Agency	Filed	Technique	Penalty	Status
SEC v. Matthew Nicosia, William Reninger, Fabrizio Di Carlo, and Ronald Touchard (boiler rooms, 2022)	SEC	2022-09-28	Boiler Rooms , Pump And Dump	—	filed
SEC v. Vandham Securities Corp. (boiler rooms, 2019)	SEC	2019-09-16	Boiler Rooms , Naked Short Selling Debate +1	—	settled
SEC v. Jason McDiarmid, et al. (boiler rooms, 2017)	SEC	2017-09-29	Boiler Rooms , Pump And Dump	—	unknown
SEC v. Marcus A. Luna, et al. (boiler rooms, 2016)	SEC	2016-09-30	Boiler Rooms , Paid Stock Promotion +1	—	filed
SEC v. Jason A. Wallace (boiler rooms, 2016)	SEC	2016-09-27	Boiler Rooms , Paid Stock Promotion +1	—	filed
SEC v. Andrew Spaventa and others (boiler rooms, 2026)	SEC	2026-08-17	Boiler Rooms	—	filed

Record added September 8, 2026. submit a correction.