Securities and Exchange Commission v. Straightpath Venture Partners, LLC et al

Filing 148

MEMORANDUM AND ORDER. The individual defendants' request to permit only a narrower stay that the government seeks (Dkt 136) is denied. I have considered also the arguments put forward in the individual defendants' sur-reply brief. Without ruling now on the immunity issue, I have concluded that the individual defendants' argument that they should be permitted to proceed with the discovery they have sought and that the intervention of the government to protect its criminal inve stigation should not be permitted to upset the bargain with respect to a receiver that the individual defendants had made with the SEC -before a criminal investigation was known to be under weigh -is unpersuasive. The government's request to extend the current stay of discovery for an additional thirty days, until February 15, 2023 (Dkt 141 ), is granted. All proceedings are stayed pending further order of the Court. SO ORDERED. (Signed by Judge Lewis A. Kaplan on 1/17/23) (yv) Modified on 1/17/2023 (yv).

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Case 1:22-cv-03897-LAK Document 148 Filed 01/17/23 Page 1 of 3 Case 1:22-cv-03897-LAK Document 148 Filed 01/17/23 Page 2 of 3 Case 1:22-cv-03897-LAK Document 148 Filed 01/17/23 Page 3 of 3 3 this stage, and the interests of justice favor a complete stay of discovery in this action. The individual defendants' request to permit only a narrower stay that the government seeks (Dkt 136) is denied. I have considered also the arguments put forward in the individual defendants' sur-reply brief. Without ruling now on the immunity issue, I have concluded that the individual defendants' argument that they should be permitted to proceed with the discovery they have sought and that the intervention of the government to protect its criminal investigation should not be permitted to upset the bargain with respect to a receiver that the individual defendants had made with the SEC - before a criminal investigation was known to be under weigh - is unpersuasive. The government's request to extend the current stay of discovery for an additional thirty days, until February 15, 2023 (Dkt 141 ), is granted. All proceedings are stayed pending further order of the Court. SO ORDERED. Dated: January 17, 2023 Le United States District Judge

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