I'm no Law-Dawg (Tombstone reference) either, but Ironridge has 20 days to respond. They may have to pay a civil penalty and/or disgorgement which according to Investopedia means: "Individuals or companies that violate Securities and Exchange Commission (SEC) regulations are typically required to pay both civil money penalties and disgorgement. Civil money penalties are punitive, while disgorgement is about paying back profits made from those actions that violated the SEC's regulations."

The document also said that the Administrative Law Judge will issue the final order no later than 300 days after the document. So, within 300 days, we will know if Ironridge is screwed or not. If you find out sooner, than you're a daisy if you do. (couldn't help that one).