On Monday, September 21, 2026, Law360 reported that an investor has agreed to end her lawsuit accusing a Texas-based crypto investment company of letting her funds get swept up in a fraudulent scheme that funneled money overseas, according to a filing in Georgia federal court.
Mary Beth Strawn and Solida Equity Partners, along with the firm’s managers Josh Kirk, Alan Napier and Tyler Ogden, submitted a stipulation Friday agreeing to dismiss the case without prejudice, with both sides covering their own attorney fees and costs.
The dismissal comes roughly a month after U.S. District Judge Michael L. Brown rejected the defendants’ bid to have the suit thrown out. Brown found that Solida could not avoid the litigation given its multiple business dealings in Georgia connected to Strawn’s investment in what she described as a pooled cryptocurrency vehicle.
Solida had argued Strawn’s claims lacked sufficient ties to the state, but the judge pointed to a 2023 dinner the firm hosted in Atlanta as the start of a “continuing relationship,” noting Solida had traveled there specifically to pitch Georgia-based investors.
According to her October complaint, Strawn invested $200,000 with Solida in June 2024 before discovering she was the fund’s only investor and that her money had been routed to other countries through contractors she was never told would be handling her funds. She said she went roughly a year without contact from the firm and encountered technical problems when attempting to check her investment status online, despite being told her money was “doing fine.”
Strawn’s suit alleged that Solida had outsourced its proprietary trading software to outside developers, Mike Boggs and James Boyd, whom she said were “running an elaborate fraudulent scheme.” She claimed Solida’s named managers misrepresented how much control they actually had over the software and “blindly handed money to third parties.”
Strawn said Boggs and Boyd funneled investor funds from Solida and other sources to overseas entities in countries including China and Ukraine, as well as to other domestic individuals, all while investors were led to believe their money was being actively traded and generating returns.
Although Boggs and Boyd were not named as defendants in Strawn’s suit, she noted that both men face separate pending litigation in Texas federal court brought by several parties, including Solida and Kirk, who accuse them of orchestrating a cryptocurrency fraud scheme built around a proprietary trading platform that promised daily returns and guaranteed security.
In a statement Monday, Solida’s attorney, Jenn Coalson, said both the firm and Strawn were victims of Boggs and Boyd, and that Solida continues to pursue claims against the two men in the Texas case. Coalson said she agreed to Strawn’s request for a voluntary dismissal following weeks of discussions over the firm’s defenses, maintaining that Solida breached no duty to Strawn and made no actionable misrepresentation.
Strawn’s attorney, Joshua Mayes, said his client’s decision to consider dropping the case stemmed from the cost of continued litigation and doubts about collecting on any eventual damages award, particularly with a motion pending to transfer the case to Delaware.
Strawn’s suit had alleged fraud, breach of fiduciary duty, and negligence, seeking $200,000 in compensatory damages for an investment she said she has not recovered.
Source: Law360
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