Securities & Exchange Commission v. Banc de Binary Ltd.

Filing 91

ORDER granting 79 , 80 Motion for Summary Judgment and granting 78 Motion to Seal 80 SEALED MOTION for Summary Judgment. Signed by Judge Robert C. Jones on 10/28/2014. (Copies have been distributed pursuant to the NEF - DKJ)

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1 2 3 4 UNITED STATES DISTRICT COURT 5 DISTRICT OF NEVADA 6 7 8 9 10 11 SECURITIES AND EXCHANGE COMMISSION, ) ) ) Plaintiff, ) ) vs. ) ) BANC DE BINARY LTD. et al., ) ) Defendants. ) ________________________________________ ) 2:13-cv-00993-RCJ-VCF ORDER 12 13 This case arises out of the alleged trading of unregistered securities. The Court has 14 entered a preliminary injunction, ruling that although they are not in fact options, the “binary 15 options” Defendant is alleged to sell are “securities” under the Securities Exchange Act of 1934, 16 as amended. Plaintiff has moved for summary judgment against three Defendants and to seal 17 certain portions of that motion and supporting documents. Those three Defendants have filed a 18 non-opposition but have argued in a footnote that they remain “free to controvert facts that would 19 have been deemed admitted if the parties were proceeding by stipulation.” In reply, Plaintiff has 20 amended its proposed order to include additional declarations directed to certain issues. The 21 Court will grant the motion for summary judgment (and the motion to seal) but will not include 22 the additional declarations requested by Plaintiff in the amended proposed order attached to the 23 reply brief. The parties may argue the effect of the grant of the present motion in subsequent 24 proceedings. Defendants in agreeing to the grant of the present motion have taken their chances 25 that certain arguments will later be determined to have been waived. The Court need not address 1 those issues now. It is enough that Defendants have failed to oppose the present motion and have 2 in fact explicitly agreed to its grant. 3 4 5 6 CONCLUSION IT IS HEREBY ORDERED that the Motion for Summary Judgment (ECF Nos. 79, 80) is GRANTED. IT IS FURTHER ORDERED that the Motion to Seal (ECF No. 78) is GRANTED. In 7 accordance with the Stipulated Protective Order (ECF No. 69), the following sealed versions of 8 the relevant documents shall remain under seal until such time as the Court may enter an order to 9 unseal them or they are otherwise unsealed under the Local Rules: 10 11 1. the SEC’s Memorandum of Points and Authorities in Support of its Motion for Summary Judgment (ECF No. 80-1); 12 2. the supporting declaration of John. W. Berry (ECF No. 80-3); and 13 3. the SEC’s Statement of Uncontroverted Facts under Fed. R. Civ. P. 56(c)(1) and Local 14 Rule 56-1 (ECF No. 80-2). 15 IT IS SO ORDERED. 16 Dated this 28th day of October, 2014. 17 18 _____________________________________ ROBERT C. JONES United States District Judge 19 20 21 22 23 24 25 Page 2 of 2

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