SUMMIT, N.J.--(BUSINESS WIRE)--In response to the U.S. Securities & Exchange Commission (SEC) press release regarding an agreement it has reached with ETF Managers Group and its chief executive officer, Samuel Masucci, the company and Mr. Masucci issued the following statement:

After incurring approximately $10 million in legal fees, and faced with the daunting costs of challenging the SEC in court, the company and Mr. Masucci, without admitting or denying the SEC’s allegations, consented to the SEC’s entry of findings.

Robert Zito
Zito Partners
(917) 692-0747
bob@zitopartners.com