Securities and Exchange Commission v. Kara et al

Filing 93

STIPULATION AND ORDER RESETTING CMC re 92 Stipulation filed by Securities and Exchange Commission Case Management Conference set for 9/30/2011 09:00 AM in Courtroom 5, 17th Floor, San Francisco.. Signed by Judge Edward M. Chen on 8/15/11. (bpf, COURT STAFF) (Filed on 8/15/2011)

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MARC J. FAGEL (Cal. Bar No. 154425)
ROBERT TASHJIAN (Cal. Bar No. 191007)
[e-mail]
MARK P. FICKES (Cal. Bar No. 178570)
[e-mail]
LLOYD FARNHAM (Cal. Bar No. 202231)
[e-mail]
Attorneys for Plaintiff
SECURITIES AND EXCHANGE COMMISSION
44 Montgomery Street, 26th 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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SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,
v.
MAHER F. KARA, MICHAEL F. KARA,
EMILE Y. JILWAN, BASSAM Y. SALMAN, and
KARIM I. BAYYOUK,

Case No. 09-CV-1880 EMC
JOINT CMC STATEMENT AND
STIPULATED REQUEST TO
CONTINUE CASE MANAGEMENT
CONFERENCE
[PROPOSED ORDER]

Defendants.

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By Order of this Court dated July 7, 2011, this matter is currently set for a Case

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Management Conference on August 19, 2011. The parties request that this Conference be

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continued until September 30, 2011.

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Three of the defendants in this case are also subject to pending criminal charges in a

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related criminal action pending before the Court. Two of these defendants, Maher Kara and

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Michael Kara (named as Mounir Kara in the indictment) changed their pleas to guilty on July 7

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and July 13, 2011. The third defendant in this case also subject to criminal charges, Emile
Case No. 09-CV-1880 EMC

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JOINT CMC STATEMENT AND STIPULATION

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Jilwan, is set to appear before this Court for a Status Conference and Trial and Motions Setting

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Conference on September 7, 2011.

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In light of the guilty pleas of Maher Kara and Michael Kara, counsel for the Commission

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and these defendants are discussing potential resolution of the Commission’s claims against

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them. After September 7, 2011, the parties will be in a better position to discuss the posture of

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this case and propose a discovery schedule for the remaining claims and defendants.

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Accordingly, the parties to this civil action request that the Court continue the Case

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Management Conference in this case to September 30, 2011.

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A.

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STATUS OF THE CASE
Three of the defendants in this civil action are also defendants in a related criminal case,

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United States v. Maher Fayez Kara, et al., Case No. 09- CR-0417 EMC. The criminal indictment

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contains factual allegations also alleged in the Commission’s civil action. No trial dates have

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been set for either the related criminal case or this civil action.

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Discovery is underway in the civil case, and the Commission has produced documents

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obtained during its investigation, pursuant to initial disclosure obligations and defendants’

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document requests, and defendants have responded to the document requests served by the

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Commission. Discovery had previously been stayed pursuant to order of the Court.

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Since the last status conference statement submitted to the Court on June 20, 2011, two of

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the defendants, Maher Kara and Michael Kara, have pled guilty to criminal charges related to the

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same insider trading allegations contained in the Commission’s enforcement action.

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B.

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STIPULATION TO CONTINUE CASE MANAGEMENT CONFERENCE
The parties agree that the Case Management Conference should be continued by 42 days,

until September 30, 2011.

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Dated: August 12, 2011

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

Case No. 09-CV-1880 EMC

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JOINT CMC STATEMENT AND STIPULATION

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/s/ George C. Harris
GEORGE C. HARRIS
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/ William H. Green
WILLIAM H. GREEN
Attorneys for Defendant EMILE Y. JILWAN

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/s/ Patrick W. Blegen
PATRICK W. BLEGEN
Attorneys for Defendant BASSAM Y. SALMAN

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/s/ Matthew F. Leitman
MATTHEW F. LEITMAN
Miller Canfield Paddock and Stone, PLC
Attorneys for Defendant KARIM I. BAYYOUK

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GENERAL ORDER 45 ATTESTATION

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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
Attorney for Plaintiff
SECURITIES AND EXCHANGE COMMISSION

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Case No. 09-CV-1880 EMC

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JOINT CMC STATEMENT AND STIPULATION

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[PROPOSED] ORDER

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The Court has considered the materials and papers submitted by counsel in this matter
and for good cause shown, IT IS HEREBY ORDERED as follows:

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The Case Management Conference previously set for August 19, 2011, is continued to

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September 30, 2011, at 9:00 a.m., with a joint status report to be filed one week prior to the

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conference.
IT IS SO ORDERED.

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August 15, 2011

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______________________________________
JUDGE EDWARDD CHEN
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UNITED STATED DISTRICT COURT
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Case No. 09-CV-1880 EMC

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ORDER CONTINUING
CASE MANAGEMENT CONFERENCE