Securities and Exchange Commission v. Kara et al

Filing 116

STIPULATION AND ORDER re 114 STIPULATION WITH PROPOSED ORDER to Continue Further Case Management Conference and Joint Status Report filed by Securities and Exchange Commission Case Management Statement due by 9/26/2013. Further Case Management Conference set for 10/3/2013 10:30 AM in Courtroom 5, 17th Floor, San Francisco.. Signed by Judge Edward M. Chen on 4/19/13. (bpf, COURT STAFF) (Filed on 4/19/2013)

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MICHAEL S. DICKE (Cal. Bar No. 158187)
ROBERT L. TASHJIAN (Cal. Bar No. 191007)
[e-mail]
LLOYD FARNHAM (Cal. Bar No. 202231)
[e-mail]
Attorneys for Plaintiff
SECURITIES AND EXCHANGE COMMISSION
44 Montgomery Street, 28th Floor
San Francisco, California 94104
Telephone: [phone]
Facsimile: [phone]

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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SAN FRANCISCO DIVISION

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Case No. 09-CV-1880 EMC

SECURITIES AND EXCHANGE
COMMISSION,

JOINT STATUS REPORT AND
STIPULATED REQUEST TO
CONTINUE FURTHER CASE
MANAGEMENT CONFERENCE

Plaintiff,
v.
MAHER F. KARA, MICHAEL F. KARA,
BASSAM Y. SALMAN, and
KARIM I. BAYYOUK,

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[PROPOSED] ORDER
Further Case Management Conf.:
April 25, 2013 at 10:30 a.m.
Honorable Edward M. Chen
Courtroom 5, 17th Floor

Defendants.

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This matter is currently set for a Further Case Management Conference on April 25,

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2013. The parties submit this Joint Status Report, and a Stipulated Request to Continue the

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Conference because the related criminal matters are still pending.

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I.

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The parties submit the following status report and updated case management statement:

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There are four remaining defendants in this insider trading action brought by the

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STATUS REPORT

Securities and Exchange Commission (“Commission”), (1) Maher Kara, (2) Michael Kara,
SEC v. Kara, et al.
Case No. 09-CV-1880 EMC

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JOINT STATUS REPORT
AND STIPULATION TO CONTINUE CMC

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(3) Bassam Salman, and (4) Karim Bayyouk. Each of the defendants in the Commission action

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is also a defendant in related criminal matters. Maher Kara and Michael Kara have pled guilty

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but have not been sentenced (U.S. v. Kara, et al., Case No. 09-CR-0417 EMC).

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The criminal matter involving Bassam Salman, U.S. v. Bassam Yacoub Salman, Case
No. 11- CR-0625 EMC, is set for a 12-day jury trial to begin on June 24, 2013.
The criminal matter involving Karim Bayyouk, U.S. v. Karim Iskander Bayyouk, Case
No. 12-CR-0420 EMC, is set for an 8-day trial to begin on August 26, 2013.
No trial date has been set for the Commission’s civil action, and dates regarding
discovery deadlines and pretrial dates have been vacated by prior orders.
The Court held a case management conference in this case on October 26, 2012, and

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directed that the Commission matter should continue to be stayed until the criminal matters are

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resolved. (Docket No. 113) The Court set a further case management for April 25, 2013, to

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follow the criminal trial in the Bassam Salman matter, which was set for March 2013 at the time

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of the conference. The Bassam Salman criminal trial date has since been continued to June 24,

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2013, and the Karim Bayyouk trial has since been set for August 26, 2013.

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II.

STIPULATED REQUEST TO CONTINUE

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Based on the above trial dates for the two related criminal matters, and the Court’s

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direction that the civil action should be stayed until the criminal matters are resolved, the parties

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in this action respectfully request that the further case management conference be continued until

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after the criminal trial dates. The parties suggest a further case management conference be set

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for October 3, 2013.

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Dated: April 17, 2013

Respectfully submitted,
/s/ Lloyd Farnham
LLOYD FARNHAM
Attorney for Plaintiff
SECURITIES AND EXCHANGE COMMISSION

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/s/ George C. Harris
GEORGE C. HARRIS
Morrison & Foerster LLP
Attorneys for Defendant MAHER KARA

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SEC v. Kara, et al.
Case No. 09-CV-1880 EMC

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JOINT STATUS REPORT
AND STIPULATION TO CONTINUE CMC

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/s/ Ismail Ramsey
ISMAIL RAMSEY
MILES EHRLICH
Ramsey & Ehrlich LLP
Attorneys for Defendant MICHAEL F. KARA

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/s/ Patrick W. Blegen
GAIL R. SHIFMAN
THOMAS M. BREEN
PATRICK W. BLEGEN
Attorneys for Defendant BASSAM Y. SALMAN

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/s/ Brian H. Getz
BRIAN H. GETZ
Attorneys for Defendant KARIM I. BAYYOUK

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In accordance with General Order 45, each of the signatories to this document have

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concurred in its filing, and I shall maintain records to support these concurrences.

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/s/ Lloyd Farnham
LLOYD FARNHAM

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[PROPOSED] ORDER

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For the reasons stated above, and for good cause shown, the Court hereby continues the

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10/3/13 at 10:30 a.m.
Further Case Management Conference in this case to _______________________________.

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The parties must file an updated Case Management Conference statement on or before
9/26/13
___________________.

UNIT
ED

O ORD
IT IS S
dwa
Judge E

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Dated:

S DISTRICT
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TA

NO

District Judge Edward M. Chen

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RT

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SEC v. Kara, et al.
Case No. 09-CV-1880 EMC

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JOINT STATUS REPORT
AND STIPULATION TO CONTINUE CMC