Securities and Exchange Commission v. Charles C. Liu et al

Filing 240

MINUTES (IN CHAMBERS) ORDER DIRECTING PLAINTIFF TO SHOW CAUSE WITHIN FOURTEEN DAYS WHY THIS CASE SHOULD NOT BE DISMISSED WITHOUT PREJUDICE by Judge Cormac J. Carney. In light of these developments fulfilling the SEC's Prayer for Relief in substa ntial part, the Court ORDERS Plaintiff to SHOW CAUSE within fourteen days why the preliminary injunction should not be converted into a permanent injunction as to the Corporate Defendants, why the receivership should not be dissolved, and why this case should not be dismissed without prejudice. (see document for details). (dro)

UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
CIVIL MINUTES – GENERAL
Case No. SACV 16-00974-CJC (AGRx)

Date: April 20, 2017

Title: SECURITIES AND EXCHANGE COMMISSION V. CHARLES C. LIU ET AL.

PRESENT:
HONORABLE CORMAC J. CARNEY, UNITED STATES DISTRICT JUDGE
Melissa Kunig
Deputy Clerk
ATTORNEYS PRESENT FOR PLAINTIFF:

None Present

N/A
Court Reporter
ATTORNEYS PRESENT FOR DEFENDANT:

None Present

PROCEEDINGS: (IN CHAMBERS) ORDER DIRECTING PLAINTIFF TO
SHOW CAUSE WITHIN FOURTEEN DAYS WHY THIS CASE SHOULD NOT
BE DISMISSED WITHOUT PREJUDICE
Plaintiff’s Complaint seeks a permanent injunction barring Defendants from
violating securities laws and participating in EB-5 commercial enterprises and an Order
requiring Defendants to disgorge all funds received from their illegal conduct, repatriate
assets, and pay civil penalties. (See Dkt. 1 at Prayer for Relief.) During the pendency of
this action, the Court has issued a preliminary injunction (Dkt. 179), appointed a receiver
over the Corporate Defendants, (Dkt. 219), granted Plaintiff’s summary judgment against
Defendants Liu and Wang, (Dkt. 238), and issued a judgment in Plaintiff’s favor against
Defendants Liu and Wang ordering disgorgement, permanently enjoining participating in
an EB-5 commercial enterprise, and imposing civil penalties, (Dkt. 239). In light of these
developments fulfilling the SEC’s Prayer for Relief in substantial part, the Court
ORDERS Plaintiff to SHOW CAUSE within fourteen days why the preliminary
injunction should not be converted into a permanent injunction as to the Corporate
Defendants, why the receivership should not be dissolved, and why this case should not
be dismissed without prejudice.
nhm
MINUTES FORM 11
CIVIL-GEN

Initials of Deputy Clerk MKU