Securities and Exchange Commission v. Kara et al
Filing
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ORDER resetting CMC. Case Management Statement due by 8/20/2015. Further Case Management Conference set for 8/27/2015 10:30 AM in Courtroom 5, 17th Floor, San Francisco.. Signed by Judge Edward M. Chen on 6/8/15. (bpf, COURT STAFF) (Filed on 6/8/2015)
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JINA L. CHOI (N.Y. Bar No. 154425)
ERIN E. SCHNEIDER (Cal. Bar No. 216114)
ROBERT L. TASHJIAN (Cal. Bar No. 191007)
tashjianr@sec.gov
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Attorneys for Plaintiff
SECURITIES AND EXCHANGE COMMISSION
44 Montgomery Street, 28th Floor
San Francisco, California 94104
Telephone: (415) 705-2500
Facsimile: (415) 705-2501
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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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SECURITIES AND EXCHANGE
COMMISSION,
Case No. 3:09-cv-1880-EMC
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Plaintiff,
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JOINT STATUS REPORT AND
UPDATED CASE MANAGEMENT
CONFERENCE STATEMENT
v.
MAHER F. KARA, MICHAEL F. KARA,
BASSAM Y. SALMAN, and
KARIM I. BAYYOUK,
Further Case Management Conference:
June 11, 2015, 10:30 a.m.
Honorable Edward M. Chen
Courtroom 5, 17th Floor
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Defendants.
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This matter is currently set for a Further Case Management Conference on June 11, 2015.
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The parties submit this Joint Status Report and Updated Case Management Conference
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Statement to update the Court on the status of the proceedings in this civil case. The defendants
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remaining in this action were also charged in related criminal cases before this Court.
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BACKGROUND
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A jury returned a guilty verdict regarding the charges against defendant Bassam Salman
on September 30, 2013. See United States v. Bassam Yacoub Salman, Case No. 11-CR-625
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SEC V. KARA, ET AL.
CASE NO. 3:09-CV-1880-EMC
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JOINT STATUS REPORT
AND UPDATED CMC STATEMENT
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EMC. The Court imposed a criminal sentence regarding Mr. Salman on April 9, 2014. Mr.
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Salman is appealing the verdict to the Ninth Circuit Court of Appeals.
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A jury returned a guilty verdict regarding the charge against defendant Karim Bayyouk
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on September 3, 2013. See United States v. Karim Iskander Bayyouk, Case No. 12-CR-420
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EMC. The Court imposed a criminal sentence regarding Mr. Bayyouk on April 15, 2014.
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Mr. Bayyouk is appealing the verdict to the Ninth Circuit Court of Appeals.
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Defendant Michael Kara pleaded guilty to two counts and was sentenced by the Court on
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December 12, 2014. See United States v. Mounir Fayez Kara, Case No. 12-CR-417 EMC. The
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defendant and the government stipulated to an amount of restitution, which the Court approved
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on April 27, 2015. The Court entered an amended judgment on April 29, 2015.
Defendant Maher Kara also pleaded guilty to two counts and was sentenced by the Court
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on December 23, 2014. See United States v. Maher Fayez Kara, Case No. 12-CR-417 EMC.
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STATUS
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Counsel for the Commission and counsel for Mr. Salman and Mr. Bayyouk have reached
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an agreement in principle to resolve the pending civil claims against both defendants.
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Commission staff is in the process of recommending the proposed resolutions to the
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Commission. The staff anticipates that the Commission will consider the staff’s
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recommendation within the next four weeks. Commission approval of the two proposed
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settlements would completely resolve the pending action against Mr. Salman and Mr. Bayyouk,
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subject to the Court’s ultimate approval and entry of final judgment.
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Counsel for the Commission and counsel for Maher Kara have also reached an agreement
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in principle. Commission staff intends to recommend the proposed resolution to the
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Commission, a process that would take approximately six to eight weeks.
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Commission counsel and counsel for Michael Kara have begun to discuss a resolution
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now that the Court has entered an amended judgment in his criminal matter. Any agreement in
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principle to resolve the Commission’s claims would likely be considered by the Commission at
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the same time it considers the proposed resolution with defendant Maher Kara.
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SEC V. KARA, ET AL.
CASE NO. 3:09-CV-1880-EMC
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JOINT STATUS REPORT
AND UPDATED CMC STATEMENT
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REQUEST
In light of the current status, the parties would propose that the Court set a further Case
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Management Conference in August 2015.
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Dated: June 4, 2015
Respectfully submitted,
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/s/ Robert L. Tashjian
ROBERT L. TASHJIAN
Attorney for Plaintiff
SECURITIES AND EXCHANGE COMMISSION
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/s/ George C. Harris
GEORGE C. HARRIS
JUSTIN D. HOOGS
Morrison & Foerster LLP
Attorneys for Defendant MAHER KARA
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/s/ Ismail Ramsey
ISMAIL RAMSEY
Ramsey & Ehrlich LLP
Attorneys for Defendant MICHAEL F. KARA
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/s/ Patrick W. Blegen
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 Civil L.R. 5-1, each of the signatories to this document has concurred
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in its filing, and I shall maintain records to support these concurrences.
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/s/ Robert L. Tashjian
ROBERT L. TASHJIAN
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RT
U
O
ard M.
NO
w
Judge Ed
H
ER
SEC V. KARA, ET AL.
CASE NO. 3:09-CV-1880-EMC
Chen
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RT
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UNIT
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R NIA
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IT IS SO ORDERED that the further CMC
is reset for 8/27/15 at 10:30 a.m. An
updated joint CMC statement shall be
filed by 8/20/15.
S DISTRICT
TE
C
_______________________________
TA
D
ERE
Edward M. Chen
O ORD D
IT IS S
DIFIE
AS MO
U.S. District Judge
FO
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N
F
D IS T IC T O
R
C
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JOINT STATUS REPORT
AND UPDATED CMC STATEMENT
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