Securities & Exchange Commission v. Nagaicevs

Filing 28

ORDER REQUESTING SUPPLEMENTAL BRIEFING AND VACATING HEARING re 26 MOTION for Default Judgment by the Court as to Defendant Igors Nagaicevs filed by Securities & Exchange Commission. Supplemental brief due by 7/10/2013. Signed by Judge Jon S. Tigar on June 25, 2013. (wsn, COURT STAFF) (Filed on 6/25/2013)

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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SECURITIES & EXCHANGE
COMMISSION,
Plaintiff,

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United States District Court
Northern District of California

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Case No. 12-cv-00413-JST
ORDER REQUESTING
SUPPLEMENTAL BRIEFING AND
VACATING HEARING

v.
IGORS NAGAICEVS,

Re: ECF No. 26

Defendant.

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Plaintiff Securities & Exchange Commission (“Plaintiff”) has filed a motion for default

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judgment, noticed for hearing on July 11, 2013. ECF No. 26. In the motion, Plaintiff requests that

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“[t]he Court should consider imposing the maximum civil monetary penalty of $130,000” for each

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of Defendant’s 159 violations. Id., at 9:12-13. The Court hereby requests that Plaintiff prepare a

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supplemental brief of not more than five pages, with citation to other cases involving similar

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circumstances, why that level of civil penalty is appropriate in light of other penalties imposed by

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federal district courts. Such brief shall be filed with the Court not later than July 10, 2013.

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The hearing scheduled for July 11 is hereby VACATED. The Court will re-set this matter
for hearing if it appears necessary after receiving Plaintiff’s supplemental brief.
IT IS SO ORDERED.
Dated: June 25, 2013
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JON S. TIGAR
United States District Judge