Silver Law Group initiates class action regarding Hedgehog Investments promissory notes

Attorney Scott Silver from Securities Fraud Attorneys, also known as Silver Law Group, has recently initiated a proposed class action lawsuit in the U.S. District Court for the District of Utah on behalf of investors nationwide who encountered losses from promissory notes issued by Hedgehog Investments, a company based in Lehi, Utah.

The lawsuit, titled Robert Klingler, individually and for others in a similar situation, v. Matthew Morrison Bates et al., was officially submitted on Jan. 15, 2026, according to the federal court docket. The complaint identifies several defendants, including Hedgehog CEO Matthew Morrison Bates, Wilfred Jose Manuel Vigil, Joshua Curtis Bishop, Frances Palacios, Stronghold Capital Partners LLC, Stronghold Wealth Partners LLC, and others.

Securities Fraud Attorneys asserts that Hedgehog Investments managed to raise significant sums of money through promissory notes by assuring investors that their investments would aid burgeoning companies in securing financing and yield returns. However, as per the complaint, the investors’ funds were allegedly mishandled in a manner that resembled a Ponzi scheme, wherein new investor funds were utilized to repay earlier investors.

In response to these allegations, the Utah Division of Securities issued an emergency order in May 2025 to halt the activities of Hedgehog Investments and its associated individuals and entities. The order accused the respondents of engaging in unlicensed securities activities, committing securities fraud, making false statements, and concealing material facts. Moreover, bank records indicated a lack of evidence that investor funds were being used for the stated purpose of supporting growing companies.

The order also revealed various red flags, including Bates’ prior felony conviction and his status as a registered sex offender, Vigil’s extensive criminal past and appearance on Utah’s Buyer Beware list, and disciplinary actions against other related individuals.

A news report from July 2025 regarding the state’s intervention described the operation’s practice of using incoming investor funds to settle past obligations, a hallmark of a Ponzi scheme.

Silver Law Group’s managing partner, Scott Silver, emphasized the severity of the case, suggesting that it might potentially be a massive Ponzi scheme centered in Utah that affected investors on a national scale. Silver expressed his commitment to representing the affected investors in their pursuit to recover their losses.

This lawsuit constitutes part of Silver Law Group’s continuous endeavors to hold accountable those involved in fraudulent promissory-note and private investment schemes, aiming to compensate the deceived investors throughout the country. The legal action is intended to evolve into a class action, aiming to recuperate the losses endured by impacted investors. As of now, no class certification has been granted, and the court has not made any determinations regarding the accusations’ validity.

Securities Fraud Attorneys, alongside co-counsel from JurisLaw LLP and Peiffer Wolf Carr Kane Conway & Wise LLP, is actively investigating claims and is eager to represent additional investors affected by losses resulting from Hedgehog Investments’ promissory notes.

The case specifics are as follows:

Court: U.S. District Court for the District of Utah

Case: Robert Klingler, individually and on behalf of all others similarly situated, v. Matthew Morrison Bates et al.

Case No. 2:2026cv00043

Filing date: Jan. 15, 2026

Silver Law Group of Securities Fraud Attorneys is dedicated to advocating for investors nationwide in matters related to securities arbitration, class actions, and litigation, with a particular focus on recovering losses tied to investment fraud and financial misconduct. More details are available on the Securities Fraud Attorneys website.