Securities and Exchange Commission v. Dunn et al

Filing 84

ORDER Granting 83 Motion for Extension of Time to File Final Settlement Papers and for an Officer and Director Bar. Signed by Judge James C. Mahan on 4/19/12. (Copies have been distributed pursuant to the NEF - MMM)

NANCY J. GEGENHEIMER
DUGAN BLISS
U.S. SECURITIES AND EXCHANGE COMMISSION
Denver Regional Office
1801 California Street Suite 1500
Denver, CO 80202
[phone]
E-mail: [e-mail]
E-mail: [e-mail]

UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA

SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,
Case No.
2:09-cv-02213-JCM-VCF
v.
R. BROOKE DUNN
and NICHOLAS P. HOWEY,
Defendants.

____________________________________________________________________________
STIPULATED MOTION FOR EXTENSION OF TIME TO FILE
FINAL SETTLEMENT PAPERS AND MOTION FOR OFFICER AND DIRECTOR BAR
AND [PROPOSED] ORDER
(FIRST REQUEST)
Pursuant to Fed. R. Civ. P. 6(b)(1) and Local Rules 6-1 and 26-2(e)(5), the parties
respectfully request that the time within which Plaintiff Securities and Exchange Commission
(the “SEC” or the “Commission”) must file final settlement papers and a motion for an officer
and director bar against Defendant Dunn be extended from its present date of April 23, 2012
[Stipulation and Order Vacating Trial Date, Docket # 82], up to and including May 14, 2012. In
support of this Motion, the parties state as follows:

1. At a mediation held March 5, 2012 before Magistrate Judge Ferenbach, the parties
reached an agreement that counsel for Plaintiff would recommend a settlement agreement
proposed by Defendants to Plaintiff’s Commissioners.1
2. Counsel for Plaintiff has attempted to seek approval of Defendants’ proposed settlement
as quickly as reasonably possible. As a result of these efforts, the Commission is now scheduled
to review the recommended settlement agreement on May 10, 2012.
3. Given that the Commission will not be able to consider the proposed settlement by the
deadlines previously set by the Court for April 23, 2012, an extension of those deadlines until
May 14, 2012 is sought to provide sufficient time for the Commission to consider the proposed
settlement and for counsel for Plaintiff to file the required documents subsequent to the
Commission’s determination. No previous extensions have been sought.

1 By statute, the Commission (the five members appointed by Congress) retains the final authority to accept
or reject terms of the settlement pursuant to Sections 4(a), 4A and 21(d)(1) of the Securities Exchange Act of
1934. The Commission has not delegated that authority to anyone on its staff. The Commission must
approve settlement terms, typically during a scheduled Commission meeting, pursuant to written
recommendation reviewed by various offices with the SEC.

2

Dated: April 17, 2012.
s/ Dugan Bliss
Nancy J. Gegenheimer
Dugan Bliss
Attorney for Plaintiff
Securities and Exchange Commission
1801 California Street, Suite 1500
Denver, Colorado 80202
Telephone: [phone]
Facsimile: [phone]
s/ Treazure R. Johnson
Venable LLP
575 7th Street, N.W.
Washington, D.C. 20004-1601
202.344.4418
[e-mail]
Attorney for Defendant Howey
s/ Randall J. Fons
Morrison & Foerster LLP
12531 High Bluff Drive
Suite 100
San Diego, CA 92130
858. 720. 5122
858.720.5125 fax
Attorney for Defendant Dunn

IT IS SO ORDERED:
____________________________________
United States District Judge
April 19, 2012
Dated:______________________________

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