Sullivan, et al v. SII Investments, Inc.
ORDER DIRECTING BRIEFING (Illston, Susan) (Filed on 3/8/2018)
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
TIMOTHY C SULLIVAN, ET AL.,
Case No. 18-cv-00666-SI
ORDER DIRECTING RESPONSE
Re: Dkt. No. 32
SII INVESTMENTS, INC.,
The Court is considering plaintiffs’ motion for leave to file a motion for partial
United States District Court
Northern District of California
reconsideration of this Court’s Order (Dkt. No. 30) denying plaintiffs’ application for a TRO.
Among other things, plaintiffs assert in that motion that defendant SII Investment, Inc. has
“block[ed] the transfer of accounts” for which plaintiffs’ clients have submitted the necessary
paperwork to transfer their accounts to plaintiffs’ current brokerage firm. Dkt. No. 35 at ¶ 8-10.
Plaintiffs allege this block is not industry protocol, that the custodial broker-dealer Pershing
refused to process the transfer because the accounts were “blocked” and that SSI has imposed the
block. Plaintiffs also allege that when they inquired as to the status of their accounts SII told them
“[a]ll your accounts are frozen.”
The Court directs defendant to respond in writing on this issue, explaining whether, when
and by what authority any such block was imposed. Such response shall be filed no later than
March 12, 2018.
IT IS SO ORDERED.
Dated: March 8, 2018
United States District Judge
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