Delgado may not be named personally/specifically, but he is named, simply because he is/was a part of GDSI management. The SEC is not just naming Sullivan and his Butt Buddy as violators of SEC rules> GDSI is named as a participant as well (meaning Delgado).
If GDSI does not answer these charges or challenge them with a response, the judgment will be rendered and GDSI will be No More.
It's really quite simple.
WE MUST ALL REALIZE THE DIFFERENCE BETWEEN HOPE & EXPECTAION BASED ON GIVEN FACTS.