Securities and Exchange Commission v. Loomis et al

Filing 110

STIPULATION and ORDER TO VACATE deadline for Plaintiff's remedies Motion against Defendant John Hagener signed by Judge Kimberly J. Mueller on 3/18/14. (Mena-Sanchez, L)

1 JINA L. CHOI (N.Y. Bar No. 2999718)
JOHN S. YUN (Cal. Bar No. 112260)
2 [e-mail]
JEREMY E. PENDREY (Cal. Bar No. 187075)
[e-mail]
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4 Attorneys for Plaintiff
SECURITIES AND EXCHANGE COMMISSION
5 44 Montgomery Street, Suite 2800
San Francisco, California 94104
6 Telephone: [phone]
Facsimile: [phone]
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UNITED STATES DISTRICT COURT

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EASTERN DISTRICT OF CALIFORNIA

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SACRAMENTO DIVISION

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13 SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,

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vs.

16 LAWRENCE “LEE” LOOMIS, LOOMIS WEALTH
SOLUTIONS, LLC, JOHN HAGENER, AND LISMAR
17 FINANCIAL SERVICES, LLC,
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Defendants.

Case No. 2:10-cv-00458-KJM-KJN
STIPULATION FOR ORDER TO
VACATE DEADLINE FOR
PLAINTIFF’S REMEDIES
MOTION AGAINST DEFENDANT
JOHN HAGENER
Date: N/A
Time: N/A
Courtroom: 3

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STIPULATION TO VACATE REMEDIES MOTION DEADLINE
By its Order dated February 10, 2014, this Court set a deadline of March 13, 2014 by
which plaintiff Securities and Exchange Commission (“Commission”) must either (1) file its
motions for remedies against defendants Lawrence “Lee” Loomis (“Loomis”) and John Hagener
(“Hagener”) or (2) submit a stipulation to continue the deadline for its remedies motion against
Loomis and/or Hagener. Docket No. 102. On March 4, 2014, Hagner submitted his written plea
agreement in the related criminal proceeding, United States v. Lawrence Loomis, whereby he pled

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SEC v. LAWRENCE “LEE’ LOOMIS, ET AL.
Case No. 2:10-cv-00458-KJM-KJN

STIPULATION RE REMEDIES MOTION

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guilty to conspiracy to commit mail fraud. The Court in the criminal proceeding has set Hagener’s

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sentencing hearing for June 10, 2014. In light of Hagener’s plea agreement, counsel for the

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Commission and Hagener agree that the Commission should have until after Hagener’s sentencing

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to decide what remedies it wishes to pursue against Hagener in this case. The parties therefore

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stipulate to entry of an order providing that:

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1. The current deadline for the Commission to file its remedies motion as to Hagener will
be vacated.
2. The Commission and Hagener will submit a joint status report within thirty days after
entry of the final judgment of criminal conviction against Hagener in the related criminal

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proceeding. The joint status report will advise the Court what remedies the Commission still

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intends to pursue against Hagener and the parties’ proposed time table for resolving any remaining

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remedies issues as to Hagener.

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3. In the joint status report, the Commission will also advise the Court whether the

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Commission still intends to pursue default judgments against the entity defendants, Loomis

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Wealth Solutions LLC and Lismar Financial Services, LLC, and, if so, the proposed time table for

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filing and hearing any motions for entry of default judgments.

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This stipulation does not change the current deadline for the Commission to file its

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remedies motion against Loomis.

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Dated: March 10, 2014
SECURITIES AND EXCHANGE COMMISSION

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By: John S. Yun
John S. Yun
Attorneys for Plaintiff
Securities and Exchange Commission

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LAW OFFICES OF KLAUS J. KOLB

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By: Klaus J. Kolb
Klaus J. Kolb
Attorney for Defendant
John Hagener

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SEC v. LAWRENCE “LEE’ LOOMIS, ET AL.
Case No. 2:10-cv-00458-KJM-KJN

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STIPULATION RE REMEDIES MOTION

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ORDER VACATING REMEDIES MOTION DEADLINE

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Plaintiff Securities and Exchange Commission and defendant John Hagener having

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stipulated to entry of this Order through their counsel, and good cause appearing, the Court sets the

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following deadlines regarding the remedies phase of this case:

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1. The current March 13, 2014 deadline for the Commission to file its remedies motion as

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to Hagener is hereby vacated. The current deadline for a remedies motion as to defendant

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Lawrence “Lee” Loomis shall remain in effect.

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2. The Commission and Hagener will submit a joint status report within thirty days after
entry of the final judgment of criminal conviction against Hagener in the related criminal

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proceeding. The joint status report will advise the Court what remedies the Commission still

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intends to pursue against Hagener and the parties’ proposed time table for resolving any remaining

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remedies issues as to Hagener.

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3. In the joint status report, the Commission will also advise the Court whether the

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Commission still intends to pursue default judgments against the entity defendants, Loomis

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Wealth Solutions LLC and Lismar Financial Services, LLC, and, if so, the proposed time table for

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filing and hearing any motions for entry of default judgments.

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SO ORDERED.
Dated: March 18, 2014.
Nunc pro tunc to March 13, 2014.
UNITED STATES DISTRICT JUDGE

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SEC v. LAWRENCE “LEE’ LOOMIS, ET AL.
Case No. 2:10-cv-00458-KJM-KJN

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STIPULATION RE REMEDIES MOTION