An investment house in Georgia is being investigated by the SEC, a news report says. The exact nature of the probe is not known.

Statim Holdings, an Atlanta-based firm, is being investigated by the US Securities and Exchange Commission, Bloomberg has reported, citing unnamed sources.

The news service's story said the SEC inquiry into Statim comes as Georgia regulators examine the firm. The state began a probe in 2015 after the company failed to submit to a surprise audit, filings show, the report said. Georgia Secretary of State Brian Kemp said in July that he had discovered “multiple irregularities" involving Statim and its hedge fund Arjun.

“Our investigation is still ongoing,” Candice Broce, a spokeswoman for Kemp, was quoted by the news service as saying. She said state regulators have been working with the SEC, which declined to comment through a spokesman.

The report went on to say that Statim, led by Joseph A Meyer, is under investigation in Georgia. Statim and Meyer have not been accused of any wrongdoing and an investigation doesn’t mean they will face legal action. Steve Sadow, an attorney for Meyer and Statim, said his clients did not do anything improper, the report said. Sadow later confirmed this comment to Family Wealth Report when asked about the matter.

“The SEC and the GA Securities Division are conducting what appear to be a routine investigation of Arjun LP, Statim Holdings, Inc. and Joseph Meyer in part based on misstatements of fact made by you in your Bloomberg article,” Sadow said in an emailed statement to the news service. “All financial records and information sought in the inquiry have been disclosed and show no fraud or illegal activity whatsoever. Mr. Meyer has and will continue to cooperate in full with both agencies.” Sadow also confirmed this comment to FWR.

There is a family office component of Statim Holdings. According to its website, "Statim Capital serves as the General Partner and Investment Manager for private investment funds. Our principle objective is capital preservation and wealth creation, over the long term."