Securities and Exchange Commission v. Bivona et al

Filing 261

STIPULATION AND ORDER re 260 STIPULATION AND PROTECTIVE ORDER CONCERNING THE NON-DISCLOSURE OF CERTAIN CONFIDENTIAL INFORMATION filed by SRA Funds Investor Group (modified by Court). Signed by Judge Edward M. Chen on 10/6/17. (bpfS, COURT STAFF) (Filed on 10/6/2017)

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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SECURITIES AND EXCHANGE
COMMISSION,

)
)
)
Plaintiff,
)
)
v.
)
)
JOHN B. BIVONA; SADDLE RIVER )
ADVISERS, LLC; SRA
)
MANAGEMENT ASSOCIATES, LLC; )
FRANK GREGORY MAZZOLA
)
)
Defendants.
)
)
)
)

Case No. 3:16-cv-1386
[PROPOSED] STIPULATION
AND PROTECTIVE ORDER
CONCERNING THE NONDISCLOSURE OF CERTAIN
CONFIDENTIAL
INFORMATION
Date: No Date
Time: No Time
Judge: Edward M. Chen

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The Receiver, interested party SRA Funds Investor Group and interested
parties Global Generation Group LLC and Benchmark Capital LLC
(collectively, “the parties”), by and through their respective counsel, hereby
stipulate and agree to the entry of a protective order as follows:
1.

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The Receiver in this matter, Sherwood Partners Inc. (“Sherwood”),

has interviewed several investment banking firms (“IB Firms”) concerning the

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various possible methods of valuation and/or liquidation of the SRA Estate’s

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non-public securities assets (“the Assets”).

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[PROPOSED] STIPULATION AND ORDER CONCERNING NON-DISCLOSURE OF CONFIDENTIAL
INFORMATION

2.

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On September 28, 2017, the Court ordered the parties to meet and

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confer on various issues pertaining to the valuation and/or liquidation of the

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Assets and to reach agreement on the terms of a protective order that would allow

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the Receiver to exchange confidential information with the other parties, but

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protect such information from any disclosure to third parties.
3.

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The parties, through their respective counsel, have met and

conferred and agree that sensitive, non-public valuation information arising from
the IB Firms’ proposals to manage the Assets, should be maintained as
confidential, and that the public disclosure of pricing, appraisal or valuation of
the Assets could negatively impact the ability of the IB Firm, or any other IB
Firm approved by the Court, to fairly negotiate the best price for some or all of
the Assets if a sale is ordered by the Court.

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Pursuant to the foregoing stipulation, IT IS HEREBY ORDERED THAT:

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1.

All information that is designated CONFIDENTIAL by the

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Receiver and provided by the Receiver (either directly or through its counsel) to

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counsel for the SRA Funds Investor Group and counsel for Global Generation

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Group LLC and Benchmark Capital LLC (“the Receiving Counsel”) shall be

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maintained as CONFIDENTIAL by Receiving Counsel. This will include the

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information submitted to the Court ex parte by the Receiver on September 28,

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2017.

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2.

Receiving Counsel may share such CONFIDENTIAL information

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only with those members or employees of their respective law firms directly

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involved in the representation associated with this lawsuit.

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3.

In order to allow Receiving Counsel to advise their respective

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clients in this matter, Receiving Counsel may also share such CONFIDENTIAL

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information with a single designated client representative on the following

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conditions:

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[PROPOSED] STIPULATION AND ORDER CONCERNING NON-DISCLOSURE OF CONFIDENTIAL
INFORMATION

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a.

The designated client representative must be a signatory to

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the stipulation and order and agree to be bound by its provisions and subject to

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the jurisdiction of this Court for enforcement purposes; and

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b.

The designated client representative may not share any

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CONFIDENTIAL information with any other person or entity, including any

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entity with which the designated client representative holds an interest or

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position, without the express prior written consent of the Receiver.

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Dated: October 6, 2017

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GARTENBERG GELFAND HAYTON LLP
By:

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/s/ John W. Cotton
John W. Cotton

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Counsel for the Receiver
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Dated: October 6, 2017

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LUBIN, OLSON & NIEWIANDOMSKI LLP
By:

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Counsel for Global Generation LLC and
Benchmark LLC

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/s/ Theodore A. Griffinger, Jr.
Theodore A. Griffinger, Jr.

Dated: October 6, 2017

PRITZKER LEVINE LLP

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By:

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/s/ Jonathan K. Levine
Jonathan K. Levine

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Counsel for the SRA Funds Investor
Group

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Dated: October 6, 2017

GLOBAL GENERATION LLC AND
BENCHMARK LLC

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By:

________________________
John Syron

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[PROPOSED] STIPULATION AND ORDER CONCERNING NON-DISCLOSURE OF CONFIDENTIAL
INFORMATION

Designated Client Representative

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Dated: October 6, 2017

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THE SRA FUNDS INVESTOR GROUP
By:

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/s/ Peter T. Healy
Peter T. Healy
Designated Client Representative

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IT IS SO ORDERED.

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DATED:

(see additional paragraphs 4-6 added below).

October 6, 2017
S DISTRICT
________________________
TE
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Judge Edward SM.RDERED
Chen
IS O O
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AS MO

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UNIT
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United States District Court
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en

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ATTESTATION

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I, Jonathan K. Levine, am the ECF user whose ID and password are
being used to file this document. In compliance with Local Rule 5-1(i)(3), I
hereby attest that all other signatories listed have concurred in this filing.

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/s/ Jonathan K. Levine
Jonathan K. Levine

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4. Information designated CONFIDENTIAL may be used in connection with this case only, and must be stored and maintained in a
secure manner that ensures that access is limited to the persons authorized under this order.
5. If a party learns that, by inadvertence or otherwise, it has disclosed CONFIDENTIAL information to any person or in any
circumstances not authorized under this stipulated protective order, the party must immediately (a) notify in writing the Receiver of the
unauthorized disclosures, (b) use its best efforts to retrieve all unauthorized copies of the CONFIDENTIAL material, (c) inform the
person or persons to whom unauthorized disclosures were made of all the terms of this Order, and (d) request that such person or
persons execute the stipulation or order.

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6. Without written permission from the Receiver or a court order secured after appropriate notice to all interested persons, a party may
not file in the public record in this action any CONFIDENTIAL material. A party that seeks to file under seal any CONFIDENTIAL
material must comply with Civil Local Rule 79-5.

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[PROPOSED] STIPULATION AND ORDER CONCERNING NON-DISCLOSURE OF CONFIDENTIAL
INFORMATION