United States Commodity Futures Trading Commission v. Paron Capital Management, LLC et al

Filing 70

ORDER Granting 68 Stipulation Extending the Deadline for Defendant Paron Capital Management, LLC to Respond to the Complaint. Admissions due by 2/16/2012. Signed by Judge Claudia Wilken on 1/11/2012. (ndr, COURT STAFF) (Filed on 1/11/2012)

1 J. Noah Hagey, Esq. (SBN: 262331)
[e-mail]
2 Mark P. Fickes, Esq. (SBN: 178570)
[e-mail]
3 BRAUNHAGEY & BORDEN LLP
220 Sansome Street, 2nd Floor
4 San Francisco, CA 94104
Telephone: [phone]
5 Facsimile: [phone]
6 ATTORNEYS FOR DEFENDANT
PARON CAPITAL MANAGEMENT, LLC
7
8
9
10

UNITED STATES DISTRICT COURT

11

FOR THE NORTHERN DISTRICT OF CALIFORNIA

12

OAKLAND DIVISION

13
UNITED STATES COMMODITY FUTURES
14 TRADING COMMISSION,
15
16
17
18
19
20
21
22

)
)
)
Plaintiff,
)
)
vs.
)
)
PARON CAPITAL MANAGEMENT, LLC, and )
JAMES D. CROMBIE,
)
)
)
Defendants.
)
)
)
)
)
)

Case No. C 11-04577 CW

STIPULATION AND [PROPOSED]
ORDER EXTENDING DEFENDANT
PARON CAPITAL MANAGEMENT,
LLC’S DEADLINE TO ANSWER OR
FILE RESPONSIVE PLEADING TO
THE COMPLAINT

23
24
25
26
27
28
Case No. C 11-04577 CW
STIPULATION AND [PROPOSED] ORDER

1

Whereas, the deadline for Defendant Paron Capital Management, LLC (“Paron”) to answer

2 or file a responsive pleading to the complaint in this matter is January 11, 2012;
3

Whereas, Plaintiff U.S. Commodity Futures Trading Commission (“CFTC”) and Paron are

4 engaged in settlement discussions that may obviate the need to respond to the complaint;
5

Whereas, the CFTC and Paron seek a thirty (30) day extension to further explore

6 settlement;
7

Whereas Paron and proposed third party defendants Peter McConnon and Timothy Lyons

8 are all plaintiffs in an action entitled Paron Capital Management, LLC et al. v. James D. Crombie,
9 Case No. 6380-CVP (Del. Ch. Ct.) (the “Delaware Litigation”);
10

Whereas the parties in the Delaware litigation anticipate the Chancery Court to issue a final

11 judgment after having tried the matter in October 2011;
12

Whereas the parties in the Delaware litigation anticipate the Chancery Court will issue the

13 final judgment on or before January 31, 2012;
14

Whereas Paron and Messrs. McConnon and Lyons believe the final judgment will be res

15 judicata on Defendant James D. Crombie’s (“Crombie”) third party complaint and Crombie’s
16 claims and defenses viz the CFTC complaint; and
17

Whereas at the case management conference held on January 4, 2012, the Court set a

18 deadline of February 16, 2012, for Messrs. McConnon and Lyons to file a motion to dismiss or
19 other responsive pleading to Crombie’s third party complaint.
20

Therefore, the CFTC and Paron stipulate and agree, and ask the Court to order, that the

21 deadline for Paron to respond to the complaint is extended up to and including February 16, 2012.
22

IT IS SO STIPULATED.

23
24
25
26 ///
27 ///
28 ///
-2STIPULATION AND [PROPOSED] ORDER

Case No. C 11-04577 CW

1 Dated: January 10, 2012

BRAUNHAGEY & BORDEN LLP

2
3

By:

4

/s
J. Noah Hagey
Attorneys for Defendant Paron Capital
Management, LLC

5
6
7

Dated: January 10, 2012

U.S. COMMODITY FUTURES TRADING
COMMISSION

8
9

By:

10

/s
Jonathan P. Robell
Attorneys for Plaintiff U.S. Commodity
Futures Trading Commission

11
12

13 Filer’s attestation: Pursuant to General Oder No. 45.X.B, counsel for Paron attests that
14 concurrence in the filing of this document has been obtained from Jonathan P. Robell, counsel for
the CFTC.
15
[PROPOSED] ORDER
16
The Court has considered the stipulation of the CFTC and Paron and finds good cause to
17
order that the deadline for Paron to answer or file a responsive pleading to the complaint is
18
extended up to and including February 16, 2012.
19
IT IS SO ORDERED.
20
21

Dated: January 11 2012
__,

_______________________________
Claudia Wilken
UNITED STATES DISTRICT JUDGE

22
23
24
25
26
27
28
-3-

STIPULATION AND [PROPOSED] ORDER

Case No. C 11-04577 CW