Securities And Exchange Commission v. Son et al

Filing 58

ORDER VACATING SETTLEMENT CONFERENCE. Signed by Judge Elizabeth D. Laporte on 7/12/2010. (lmh, COURT STAFF) (Filed on 7/12/2010)

Securities And Exchange Commission v. Son et al

Doc. 58

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28

ROBERT TASHJIAN (Cal. Bar No. 191007) [e-mail] THOMAS J. EME (Illinois Bar. No. 6224870) [e-mail] Attorneys for Plaintiff SECURITIES AND EXCHANGE COMMISSION 44 Montgomery Street, 26th Floor San Francisco, California 94104 Telephone: [phone] Facsimile: [phone] GRETCHEN L. LOWE (D.C. Bar No. 421995) [e-mail] TOYE OLARINDE (Virginia Bar No. 43075) [e-mail] Attorneys for Plaintiff COMMODITY FUTURES TRADING COMMISSION 1155 ­ 21st Street, N.W. Washington, D.C. 20581 Telephone: [phone] Facsimile: [phone] UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. PETER C. SON, JIN K. CHUNG, SNC ASSET MANAGEMENT, INC., and SNC INVESTMENTS, INC., Defendants. Case No. CV-09-2554 MMC Case No. CV-09-2555 MMC [PROPOSED] ORDER VACATING SETTLEMENT CONFERENCE

Dockets.Justia.com

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28

UNITED STATES COMMODITY FUTURES TRADING COMMISSION, Plaintiff, v. SNC ASSET MANAGEMENT, INC., Formerly Son and Company, Inc., SNC INVESTMENTS, INC., PETER SON, and JIN K. CHUNG, Defendants, and ANN LEE, Relief Defendant.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28

The parties filed an Interim Status Report on June 24, 2010, to inform the Court that defendant Peter C. Son recently pleaded guilty in a related criminal action. Son is currently scheduled to be sentenced on July 30, 2010. The parties are in negotiations to resolve the pending claims against Son and the two entity defendants, SNC Asset Management, Inc. ("SNCA") and SNC Investments, Inc. ("SNCI"). This matter is currently set for a Settlement Conference with Magistrate Judge Elizabeth D. Laporte on July 29, 2010. See Notice of Settlement Conference and Settlement Conference Order, dated Jan. 29, 2010. In light of the guilty plea, the upcoming sentencing hearing, and the anticipated resolution of the civil claims, the parties believe that they will be able to resolve this action without the assistance of the Court and recommend that the Settlement Conference be taken off calendar. * * *

[PROPOSED] ORDER The Court has considered the materials and papers submitted by counsel in this matter, including the Interim Status Report. For good cause shown and PURSUANT TO STIPULATION, IT IS HEREBY ORDERED as follows: The Settlement Conference, currently scheduled for July 29, 2010, is vacated and taken off calendar. The parties are relieved of their obligation to file a Confidential Settlement Conference Statement on or before July 19, 2010. The parties shall inform the Court no later than August 6, 2010, about the status of the criminal sentencing and whether they believe that a Settlement Conference will be required to resolve the civil claims. IT IS SO ORDERED.
UNIT ED
S DISTRICT TE C TA

RT U O

July 12 Dated: ______________, 2010

ORDER VACATING SETTLEMENT CONF.

1

C F D I S TCV-09-2554/2555 MMC TO CASE NOS. R I C
N

ER

A

LI

FO

D. La izabeth udge El J

porte

R NIA

D _______________________________ RDERE IS SO O IT ELIZABETH D. LAPORTE United Stated Magistrate Judge
NO

S

RT

H

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28

Filed with the consent of the undersigned counsel:

/s/ Robert L. Tashjian ROBERT L. TASHJIAN Attorney for Plaintiff SECURITIES AND EXCHANGE COMMISSION

/s/ Toye A. Olarinde___ _____ TOYE A. OLARINDE Attorney for Plaintiff COMMODITY FUTURES TRADING COMMISSION

/s/ John H. Feiner JOHN H. FEINER Attorney for Defendants PETER C. SON, SNC ASSET MANAGEMENT, INC., and SNC INVESTMENTS, INC., and Relief Defendant ANN LEE

ORDER VACATING SETTLEMENT CONF.

2

CASE NOS. CV-09-2554/2555 MMC