Securities And Exchange Commission v. Son et al

Filing 64

ORDER STAYING DISCOVERY, VACATING PRETRIAL AND TRIAL DATES, AND CONTINUING CASE MANAGEMENT CONFERENCE. Discovery is stayed until after defendant Peter C. Son is sentenced in CR 09-0755 DLJ. The parties shall inform the Court of the status of the cri minal sentencing no later than November 26, 2010. The non-expert discovery cutoff, expert discovery cutoff, dispositive motion filing deadline, meet and confer deadline, pretrial conference, and trial dates are vacated. The Case Management Conferenc e is continued from October 29, 2010 to January 14, 2011, and will be conducted telephonically. A Joint Case Management Statement shall be filed no later than January 7, 2011. Signed by Judge Maxine M. Chesney on October 26, 2010. (mmclc1, COURT STAFF) (Filed on 10/26/2010)

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Securities And Exchange Commission v. Son et al Doc. 64 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 ROBERT TASHJIAN (Cal. Bar No. 191007) tashjianr@sec.gov THOMAS J. EME (Illinois Bar. No. 6224870) emet@sec.gov Attorneys for Plaintiff SECURITIES AND EXCHANGE COMMISSION 44 Montgomery Street, 26th Floor San Francisco, California 94104 Telephone: (415) 705-2500 Facsimile: (415) 705-2501 GRETCHEN L. LOWE (D.C. Bar No. 421995) glowe@cftc.gov TOYE OLARINDE (Virginia Bar No. 43075) aolarinde@cftc.gov Attorneys for Plaintiff COMMODITY FUTURES TRADING COMMISSION 1155 21st Street, N.W. Washington, D.C. 20581 Telephone: (202) 418-5322 Facsimile: (202) 418-5531 UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. Case No. CV-09-2554 MMC Case No. CV-09-2555 MMC CASE MANAGEMENT STATEMENT AND STIPULATED REQUEST TO STAY DISCOVERY AND CONTINUE PRETRIAL DEADLINES AND REQUEST FOR TELEPHONIC CASE MANAGEMENT ORDER STAYING DISCOVERY, VACATING PRETRIAL AND TRIAL DATES, AND CONTINUING CASE MANAGEMENT CONFERENCE 20 21 22 23 24 25 26 27 28 PETER C. SON, JIN K. CHUNG, SNC ASSET MANAGEMENT, INC., and SNC INVESTMENTS, INC., Defendants. Dockets.Justia.com 1 2 3 4 5 6 7 8 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 CONFERENCE AND [PROPOSED] ORDER 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 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 Pursuant to the Court's minute order of January 22, 2010, plaintiff Securities and Exchange Commission ("SEC"), plaintiff Commodity Futures Trading Commission ("CFTC"), defendants Peter C. Son, SNC Asset Management, Inc., and SNC Investments, Inc., and relief defendant Ann Lee submit this Further Joint Case Management Statement for both the SEC's case and the CFTC's case. As the parties previously informed the Court, defendant Peter C. Son pleaded guilty in a related criminal action captioned United States v. Peter C. Son, No. CR 09-00755 DLJ (N.D. Cal. filed July 27, 2009). The criminal charges against Son are based on the same factual allegations as those made by the plaintiffs in these two civil actions pending before this Court. Son pleaded guilty to the criminal charges on April 9, 2010. Minute Order, United States v. Son, Docket No. 20. On July 30, 2010, Son was sentenced to 180 months in custody. See Criminal Pretrial Minute Order, United States v. Son, Docket No. 27. Son was also ordered to pay criminal restitution, but the Court deferred a decision on the restitution amount. See id.; Criminal Pretrial Minute Order, United States v. Son, Docket No. 30 (continuing hearing until Oct. 15, 2010). A further hearing on restitution is scheduled for November 19, 2010. Criminal Pretrial Minute Order, United States v. Son, Docket No. 31. The plaintiffs and Son, who is an officer of the corporate defendants in these two civil actions, have discussed a potential resolution of the civil claims. The parties will consider Son's criminal sentence, including incarceration time and restitution ordered, in arriving at an appropriate resolution. The parties believe that an order in the criminal action setting the restitution amount and otherwise completing Son's sentence will facilitate a resolution of these two civil actions. The parties agree to recommend that the Court stay discovery in these matters until after Son's criminal sentence is finalized and the amount of restitution is determined. A discovery stay would permit the parties to discuss resolution of the civil claims. Similarly, the parties agree to recommend that the trial date, currently scheduled for March 21, 2011, be vacated along with the pretrial deadlines. The parties agree to inform the Court promptly of CASE MANAGEMENT REPORT AND STIP. 1 CASE NOS. CV-09-2554/2555 MMC 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 developments in the criminal matter. Should the parties fail to reach an agreement following resolution of the criminal matter, the parties will recommend further discovery deadlines and a trial date. In addition, the parties respectfully request that the Court conduct the October 29, 2010, Case Management Conference by telephone. The offices of counsel for plaintiff Commodity Futures Trading Commission and for defendants Peter Son, SNC Asset Management, Inc., and SNC Investments, Inc., and relief defendant Ann Lee, are not in the Northern District of California. The Court previously granted the parties' request for a telephonic conference. See Order Granting Plaintiff's Application for Telephonic Case Management Conference entered Jan. 19, 2010 (Docket No. 48). // // // CASE MANAGEMENT REPORT AND STIP. 2 CASE NOS. CV-09-2554/2555 MMC 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 following counsel would participate at the Case Management Conference by telephone: Plaintiff Securities and Exchange Commission: Thomas J. Eme (telephone: (415) 705-2320). Plaintiff Commodity Futures Trading Commission: Toye A. Olarinde (telephone: (202) 418-5516); Kevin Batteh (telephone (202) 418-5636). Defendants Peter Son, SNC Asset Management, Inc., and SNC Investments, Inc., and relief defendant Ann Lee: John H. Feiner (telephone: (818) 970-8779). A proposed Order follows. Dated: October 22, 2010 /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 CASE MANAGEMENT REPORT AND STIP. 3 CASE NOS. CV-09-2554/2555 MMC 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 October 26 Dated: ______________, 2010 * * * [PROPOSED] ORDER The Court has considered the materials and papers submitted by counsel in this matter. For good cause shown and PURSUANT TO STIPULATION, IT IS HEREBY ORDERED as follows: Discovery in both actions (Case Nos. 09-cv-2554 and 09-cv-2555) shall be stayed until after defendant Peter C. Son is sentenced in the criminal action captioned United States v. Peter C. Son, No. CR 09-007755 DLJ (N.D. Cal. filed July 27, 2009). The parties shall inform the Court no later than November 26, 2010, about the status of the criminal sentencing. The following pretrial deadlines previously set by the Court are vacated: Non-expert discovery cutoff Expert discovery cutoff Dispositive motions Meet and confer Pretrial conference Trial date Oct. 29, 2010 Oct. 29, 2010 Dec. 3, 2010 Jan. 31, 2011 Mar. 8, 2011 Mar. 21, 2011 In addition, upon joint request of the parties, the Case Management Conference in both actions currently scheduled for October 29, 2010, at 10:30 a.m. (PDT) will be conducted by telephone. is hereby CONTINUED to January 14, 2011, and will be conducted by telephone. A Joint Case Management Statement shall be filed by January 7, 2011. IT IS SO ORDERED. _______________________________ MAXINE M. CHESNEY United States District Judge CASE MANAGEMENT REPORT AND STIP. 4 CASE NOS. CV-09-2554/2555 MMC

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