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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1 2 3 4 5 6 7 MICHAEL S. DICKE (Cal. Bar No. 158187) ROBERT L. TASHJIAN (Cal. Bar No. 191007) LLOYD FARNHAM (Cal. Bar No. 202231) Attorneys for Plaintiff SECURITIES AND EXCHANGE COMMISSION 44 Montgomery Street, 28th Floor San Francisco, California 94104 Telephone: (415) 705-2500 Facsimile: (415) 705-2501 8 9 10 UNITED STATES DISTRICT COURT 11 NORTHERN DISTRICT OF CALIFORNIA 12 SAN FRANCISCO DIVISION 13 14 15 16 17 18 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, 19 [PROPOSED] ORDER Further Case Management Conf.: April 25, 2013 at 10:30 a.m. Honorable Edward M. Chen Courtroom 5, 17th Floor Defendants. 20 21 22 This matter is currently set for a Further Case Management Conference on April 25, 23 2013. The parties submit this Joint Status Report, and a Stipulated Request to Continue the 24 Conference because the related criminal matters are still pending. 25 I. 26 The parties submit the following status report and updated case management statement: 27 There are four remaining defendants in this insider trading action brought by the 28 STATUS REPORT Securities and Exchange Commission (“Commission”), (1) Maher Kara, (2) Michael Kara, SEC v. Kara, et al. Case No. 09-CV-1880 EMC 1 JOINT STATUS REPORT AND STIPULATION TO CONTINUE CMC 1 (3) Bassam Salman, and (4) Karim Bayyouk. Each of the defendants in the Commission action 2 is also a defendant in related criminal matters. Maher Kara and Michael Kara have pled guilty 3 but have not been sentenced (U.S. v. Kara, et al., Case No. 09-CR-0417 EMC). 4 5 6 7 8 9 10 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 11 directed that the Commission matter should continue to be stayed until the criminal matters are 12 resolved. (Docket No. 113) The Court set a further case management for April 25, 2013, to 13 follow the criminal trial in the Bassam Salman matter, which was set for March 2013 at the time 14 of the conference. The Bassam Salman criminal trial date has since been continued to June 24, 15 2013, and the Karim Bayyouk trial has since been set for August 26, 2013. 16 II. STIPULATED REQUEST TO CONTINUE 17 Based on the above trial dates for the two related criminal matters, and the Court’s 18 direction that the civil action should be stayed until the criminal matters are resolved, the parties 19 in this action respectfully request that the further case management conference be continued until 20 after the criminal trial dates. The parties suggest a further case management conference be set 21 for October 3, 2013. 22 23 Dated: April 17, 2013 Respectfully submitted, /s/ Lloyd Farnham LLOYD FARNHAM Attorney for Plaintiff SECURITIES AND EXCHANGE COMMISSION 24 25 26 /s/ George C. Harris GEORGE C. HARRIS Morrison & Foerster LLP Attorneys for Defendant MAHER KARA 27 28 SEC v. Kara, et al. Case No. 09-CV-1880 EMC 2 JOINT STATUS REPORT AND STIPULATION TO CONTINUE CMC 1 /s/ Ismail Ramsey ISMAIL RAMSEY MILES EHRLICH Ramsey & Ehrlich LLP Attorneys for Defendant MICHAEL F. KARA 2 3 /s/ Patrick W. Blegen GAIL R. SHIFMAN THOMAS M. BREEN PATRICK W. BLEGEN Attorneys for Defendant BASSAM Y. SALMAN 4 5 6 /s/ Brian H. Getz BRIAN H. GETZ Attorneys for Defendant KARIM I. BAYYOUK 7 8 9 In accordance with General Order 45, each of the signatories to this document have 10 11 concurred in its filing, and I shall maintain records to support these concurrences. 12 /s/ Lloyd Farnham LLOYD FARNHAM 13 14 15 16 [PROPOSED] ORDER 17 For the reasons stated above, and for good cause shown, the Court hereby continues the 18 10/3/13 at 10:30 a.m. Further Case Management Conference in this case to _______________________________. 19 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 RT U O Dated: S DISTRICT TE C TA NO District Judge Edward M. Chen 25 RT 26 28 SEC v. Kara, et al. Case No. 09-CV-1880 EMC 3 hen rd M. C ER H 27 R NIA 24 ERED FO 23 LI 22 S 21 A 20 N F D IS T IC T O R C JOINT STATUS REPORT AND STIPULATION TO CONTINUE CMC

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