Brown et al v. Price et al

Filing 96

AMENDED Findings Of Fact, Conclusions Of Law And Order Granting Plaintiffs Motion For Final Approval Of Class Action Settlement, Motion for Award of Attorney Fees, Costs, and Incentive Awards, and Responding Defendants Request for Permanent Injunction. Signed on 10/18/2017 by Judge Marco A. Hernandez. (sss)

Robert S. Banks, Jr., OSB No. 821862
[e-mail]
SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, Oregon 97204-3642
Telephone [phone]
Facsimile [phone]
Lawrence R. Cock, OSB No. 102524
[e-mail]
CABLE, LANGENBACH, KINERK & BAUER, LLP
Suite 3500, 1000 Second Avenue Building
Seattle, Washington 98104-1048
Telephone [phone]
Facsimile [phone]

Of Attorneys for Plaintiffs

IN THE UNITED STATES DISTRICT COURT OF THE STATE OF OREGON
DISTRICT OF OREGON
Portland Division
Leon Brown, Kirk Clothier, Nancy Gilbert, Rollin
Chew, Edwin L. Chew Family Trust, Bernard
Gutow as Trustee of the Gutow Family Trust dtd
10/28/1991, all individually and on behalf of all
others similarly situated,
Plaintiffs,
vs.
Norman Gary Price and Christina A. Price;
Ronald J. Robertson and Kathryn Robertson;
RP Capital, LLC; Douglas R. Bean and Megan

NO. 3:17-cv-00869-HZ
AMENDED Findings Of Fact,
Conclusions Of Law And Order
Granting Plaintiffs’ Motion For
Final Approval Of Class Action
Settlement, Motion for Award of
Attorney Fees, Costs, and Incentive
Awards, and Responding
Defendants’ Request for
Permanent Injunction

Page 1 – Amended Order Approving Class Action Settlement, Awarding
Attorney Fees, Expenses, and Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR
LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

Susanne Bean; S. Christopher Bean and Jodi J.
Bean; Bean Holdings, LLC; Jonathan Bishopp
and Monica Bishopp; Timothy J. Feehan, Jr.
and Kimberly A. Feehan; ; Strategic Capital
Alternatives LLC; and SCA Holdings LLC,
Defendants.
This matter came before the Court upon Plaintiffs’ Motion for Final Approval of Class
Settlement (Dkt. 79). The Court has heard oral argument (on October 16, 2017) and reviewed
and considered the records and files herein, including the following:
1. Stipulated Settlement Agreement (Dkt. No. 61) and Stipulated Settlement Agreement
(Dkt. No. 62). Dkt. 61 and 62 are collectively referred to hereafter as the “Settlement;”
2. Order Determining that Class Action May be Maintained (Dkt. 66);
3. Declarations filed by settling defendants attesting to the accuracy of previously provided
financial statements (Dkt. Nos. 67-78);
4. Plaintiffs’ Motion for Final Approval of Class Settlement (Dkt. 79);
5. Co-Lead Counsels’ Motion for Award of Reasonable Attorney Fees, Costs and Incentive
Awards for Class Representatives and Members (Dkt. 80);
6. Declaration of Robert S. Banks, Jr. (Dkt. 81);
7. Declaration of Lawrence R. Cock (Dkt. 82);
8. Declaration of Markham Sherwood (Dkt. 83);
9. Certain Responding Defendants’ Response to Plaintiffs’ Motion for Final Approval of
Class Settlement and Request for Permanent Injunction (Dkt. 89);
10. Enviso Capital Group LLC’s Opposition to Approval of Class Settlement (Dkt. 88);

Page 2 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

11. Objection of William Gilmore/Victoria Cottrell (dated September 29, 2017);
12. Plaintiffs’ Reply to Objection of Enviso Capital Group and Objection of Class Member
Gilmore (Dkt. 90); and
13. Declaration of H. Troy Romero (Dkt. 91).
14. Pleadings related to the Court’s preliminary injunction and Responding Defendants’
Request for Permanent Injunction:
(a) Joint Motion of Plaintiffs and Certain Defendants For Preliminary Injunction to
Enjoin Various FINRA Arbitration Cases in Order to Preserve Settlement Funds
for Benefit of Larger Investment Class (Dkt. 33);
(b) Declaration of Ronald F. Greenspan In Support of Motion of Plaintiffs and
Certain Defendants for Preliminary Injunction (Dkt. 34);
(c) Declaration of Nathan T. Alexander in Support of Motion for Preliminary
Injunction (Dkt. 35);
(d) Declaration of Norman Gary Price in Support of Preliminary Injunction Motion
(Dkt. 36);
(e) Intervenors’ Opposition to Joint Motion of Plaintiffs and Certain Defendants for
Preliminary Injunction to Enjoin Various FINRA Arbitration Cases in Order to
Preserve Settlement Funds for Benefit of Larger Investment Class (Dkt. 53);
(f) Joint Reply in Support of Motion for Preliminary Injunction to Stay FINRA
Arbitration Cases (Dkt. 56);
(g) Declaration of Lawrence R. Cock (Dkt. 57); and
(h) Opinion and Order (Dkt. 60).

Page 3 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

The Court is fully advised and enters the following Findings, Conclusions, and Order:
I.

FINDINGS OF FACT

1. In Docket No. 66, the Court previously entered an order determining that a class
action could be maintained, certifying the class, preliminarily approving the
Settlement, approving the form of the notice and setting a fairness hearing. The
findings in Docket No. 66 are incorporated by reference and to the extent such
findings were previously made on a preliminary basis, the Court endorses them as
part of this disposition. Except for terms defined herein, the Court adopts and
incorporates the definitions in the Settlement and the Court’s Order Determining that
Class Action May be Maintained (Dkt. 66) for purposes of this Order.
2. The notice requirements included in the Court’s order (Dkt. No. 66) have been
satisfied.
Fairness, reasonableness, and adequacy of the class action settlement
3. Because this action settled before substantive motions were filed here, this Court has
not had an opportunity to fully consider the merits. While plaintiffs believe their
claims have merit, plaintiffs concede that they faced liability hurdles and that
defendants have raised defenses based on the involvement of the issuer and the
disclosure documents received and signed by investors.
4. The case is complex, would require substantial expense to bring to a verdict, would
take a substantial amount of time, and there is a risk that the action would not
succeed. Defendants have indicated they intend to vigorously defend the claims.
There are substantial risks that defendants would be unable to pay a judgment, and

Page 4 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

additionally the risk that if the Settlement is not approved, a small number of
individual claimants will get most or all of the available funds. The two insurance
policies are wasting policies and the amount available to satisfy claims will be
reduced by costs of defending this action (or multiple actions).
5. There is a risk that defendants would defeat class status by arguing that suitability
claims being pursued by individual investors lack commonality.
6. The amount offered in settlement, $6,100,000, is composed of the remaining
insurance proceeds applicable to the claims, plus amounts contributed by various
defendants. $4,900,000 will be paid by the defendants Douglas R. Bean and Megan
Suzanne Bean; S. Christopher Bean and Jodi J. Bean, Jonathan Bishopp and Monica
Bishopp, and Bean Holdings LLC, and their insurance carrier, Liberty Surplus
Insurance Corporation. A settlement of $1,200,000 will be paid by Norman Gary
Price and Christina Price, Ronald J. Robertson and Kathryn Robertson, Timothy
Feehan, Jr. and Kimberly A. Feehan, Antonio Ramirez and Wendy Ramirez; Aaron
Maurer and Laura Maurer; RP Capital, LLC; Strategic Capital Alternatives, LLC and
SCA Holdings, and RP Capital's Insurance carrier, Certain Underwriters at Lloyd's,
London.
7. Members of the class have claims against a fund (composed of the insurance and
personal assets of defendants) that will likely prove insufficient to satisfy all of them.
Individual suits would likely exhaust the fund before all members were able to protect
their interests. Without a class action settlement, litigation against these defendants
would likely become a race to the courthouse door with some winners and many class

Page 5 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

members unable to recover. Only a Rule 23(b)(1)(B) non-opt out class would prevent
individuals from disproportionately depleting defendants’ assets (and insurance) by
prosecuting separate cases. The risk that available funds would be inadequate to pay
all claims constitutes a risk of substantial impairment.
8. Claimants will continue to own their respective investments, with the prospect of
recovery of additional amounts being pursued in other actions and/or from the
Receivership estate.
9. The Settlement will financially benefit individual investor class members on an
equitable or pro rata basis (relative to their respective net out of pocket loss) and there
is a substantial risk that absent approval of the Settlement, many class members will
recover less or nothing from these defendants.
10. Plaintiffs filed a very detailed Complaint in King County, Washington, indicating a
substantial amount of research into the issues, parties, and legal claims. The
Settlement was reached before the parties engaged in discovery, but after the parties
participated in a two-day mediation, and negotiated over several months. Multiple
defendants provided plaintiffs’ counsel with sworn financial statements to allow
plaintiffs’ counsel to evaluate the ability of defendants to make individual
contributions to the Settlement. Multiple defendants have submitted sworn testimony
that their financial wherewithal has not materially changed since the plaintiffs first
initiated the lawsuit in King County.
11. The experience and views of counsel for all parties support approval of the
Settlement. The experience and views of the Receiver (and his counsel) in the

Page 6 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

Aequitas Receivership supports approval of the Settlement.
12. The Settlement is the result of good faith arms-length negotiations and there is no
evidence of fraud or collusion. The parties’ decision to settle was fully informed.
13. The total class contains more than 370 members. As discussed below, only one class
member filed an objection.
Objections to the settlement
14. Mr. Gilmore/Ms. Cottrell are the only class member that objected to the proposed
settlement; William Gilmore/Victoria Cottrell have a single claim. The objection is
limited to the methodology used to calculate the loss; there is no objection by any
class member to the amount of the proposed settlement, the inability to opt out, or the
proposed award of attorney fees, expenses, or costs.
15. The method utilized to calculate loss, a net out of pocket calculation, treats all class
members equitably, is fair to class members, and is easy to understand and apply.
16. A non-party, Enviso Capital Group LLC also filed an opposition to approval. (Dkt.
88). Enviso is not a party to this proceeding, is not a class member, and lacks standing
to object to the Settlement. Enviso has not established any right to a share of
insurance proceeds from the Liberty Surplus Insurance Policy. Nothing in this
Settlement or the Court’s orders in this proceeding limit Enviso’s future scope of
action, or releases any claim brought by Enviso. Enviso has not established any legal
prejudice it will suffer from the Settlement.
Attorney Fees, Expenses, and Class Representative Incentive Awards
17. This class action is a common fund case and the Settlement will create a common

Page 7 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

fund of $6,100,000.00.
18. The class of beneficiaries are the class members, the benefits are traceable to class
members, and it is possible to shift the fee to those benefitting with some exactitude.
Each member of the class has an undisputed and mathematically ascertainable claim
to part of the lump-sum settlement recovered.
19. A percentage method for determining an attorney fee award is appropriate, given
litigation risks, defendants’ inability to pay judgments, contingent fee agreements
between class counsel and many class members, likely delay in being paid (if a
recovery was effectuated), insurance coverage risks, complexity of the issues,
conversion to a class action, competing claims and lawsuits, the stay imposed in the
Receivership Action, and the absence of any objection by any class member. CoLead Counsel for the class provided quality representation in a complex proceeding,
obtained a benefit for the class, and had a high risk of partial payment or nonpayment.
20. Taking into account all of the circumstances, Plaintiffs’ Class Counsel’s request for
20% of the settlement amount is reasonable and an attorney fee award of $1,220,000
to Co-Lead Counsel is reasonable.
21. The lodestar amount for Plaintiffs’ Class Counsel’s fees, as of August 31, 2017, is
$491,256.75. The hourly rates usually charged by Co-Lead Counsel are fair and
reasonable for attorneys with similar experience. Robert Banks has 35 years of
experience as a litigation attorney in securities cases and charges $495 per hour.
Lawrence Cock has more than 23 years of experience as a litigation attorney in
securities cases and charges $410 per hour. The multiplier for the lodestar is 2.48 as

Page 8 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

of August 31, 2017 based upon those rates. Co-Lead Counsel has continued to
perform services for the class following August 31, 2017. The multiplier is actually
lower, and likely 2.3 as a result of the additional time spent by Co-Lead Counsel
since August 31, 2017. Given the complexity of the case and the risks, a lodestar
multiplier of 2.3 is reasonable and a “lodestar check” confirms the appropriateness of
an attorney fee award of 20% of the settlement amount.
22. Co-Lead Counsel paid expenses of $40,193.87. These expenses were reasonably
incurred. Co-Lead Counsel will reasonably incur further costs of the Claims
Administrator to further administer the Settlement.
23. Certain class representatives agreed to travel to and attend a two-day mediation in
Seattle, Washington at their own expense and for the benefit of the class. They
incurred expenses in doing so and are entitled to an incentive award from the
settlement fund to parti ally reimburse them for their services.
24. The class representatives assumed responsibilities on behalf of and for the benefit of
the class, and are entitled to an incentive award for their services.
Responding Defendants’ Request for Permanent Injunction
25. On September 29, 2017, Defendants Norman Gary Price, Christina Price, Ronald J.
Robertson, Kathryn Robertson, RP Capital LLC, Timothy J. Feehan, Jr., Kimberly A.
Feehan, Strategic Capital Alternatives LLC, and SCA Holdings LLC (“Responding
Defendant”) filed a Request for Permanent Injunction (Dkt. 89). The injunction is
requested on behalf of parties identified in the Stipulation of Settlement (Dkt. 62):
Norman Gary Price, Christina Price, Ronald J. Robertson, Kathryn Robertson,
Page 9 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

RP Capital LLC, Timothy J. Feehan, Jr., Kimberly A. Feehan, Strategic Capital
Alternatives LLC, and SCA Holdings LLC, Strategic Capital Group, LLC,
Craig D. Johnsen, Antonio Ramirez, Wendy Ramirez, Aaron Maurer, Laura
Maurer, Kenneth Peterson, and Patricia Peterson (collectively hereafter called
the “RPC Settling Parties”).
26. On July 26, 2017, this Court granted a preliminary injunction (Dkt. 60). The Court
incorporates the reasoning and findings from its previous order by reference.
27. The benefits of the Settlement would be lost to the Defendants if members of a nonopt out class were allowed to proceed with pending FINRA Cases or to initiate new
arbitrations of lawsuits against the RPC Settling Parties based on the
recommendations or sales of Aequitas Investments.
28. Responding Defendants have been named as respondents in various arbitrations filed
with the Financial Industry Regulatory Authority (“FINRA”). The arbitrations allege
that Responding Defendants offered investments in various Aequitas entities
(“Aequitas investments”), which failed in late 2015 and early 2016. The arbitrations
generally allege that Responding Defendants failed to advise clients of the risks of
investments issued by Aequitas, and that the Aequitas investments were not suitable
for the Claimants. Claimants also asserted claims against certain Responding
Defendants for failing to supervise the actions of registered representatives in
connection with the offering of Aequitas investments. These claims, in part or in
whole, are pled in the following FINRA arbitrations:

Page 10 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

•

Nassar, et al. v. RP Capital, et al., Case No. 16-00943 (FINRA) (filed in April 2016,
and seeking at least $600,000) (“Nassar”);

•

Reiss, et al. v. RP Capital, et al., Case No. 16-01610 (FINRA) (filed in June 2016, and
seeking at least $1.81 million) (“Reiss”);

•

Fluegel, et al. v. RP Capital, et al., Case No. 16-01967 (FINRA) (filed in July 2016,
and seeking at least $158,491) (“Fluegel”);

•

Martens v. RP Capital, et al., Case No. 16-03187 (FINRA) (filed in October 2016, and
seeking at least $700,000) (“Martens”); and
Wu v. RP Capital, et al., Case No. 17-00594 (FINRA) (filed March 7, 2017 and
seeking at least $578,000) (“Wu”) (collectively, “Pending FINRA Cases”).

29. The FINRA claimants will not suffer unfair prejudice by the issuance of a permanent
injunction. As class members, the claimants will be entitled to submit claims.
30. The public interest favors a permanent injunction because the Settlement preserves
funds for all class members, a larger group of investors. In the absence of a
permanent injunction and a non-opt out class, the limited funds available to settle or
pay awards or judgments would be eroded.
II.

CONCLUSIONS OF LAW

1. A balancing of all factors relating to fairness, reasonableness, and adequacy of the
Settlement weighs heavily in favor of approving the Settlement. The Settlement is fair,
reasonable, and adequate.
2. An attorney fee award of $1,220,000 (20% of the Settlement) out of the common fund
is reasonable.
3. Reimbursement out of the common fund of $40,193.87 in expenses is reasonable.

Page 11 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

4. Incentive awards out of the common fund of $2,000.00 for each Class Representative
and $1,000 per day to each Class Member who attended the two-day mediation in
Seattle is reasonable.
5. In the absence of injunctive relief, the RPC Settling Defendants will suffer irreparable
harm, a balance of the equities tips in favor of granting the RPC Settling Defendants a
permanent injunction, and an injunction serves the public interest.
III.

ORDER

1. Plaintiffs’ motion for Final Approval of Class Action Settlement is GRANTED.
2. The terms of the stipulated settlement agreements filed by various defendants (Dkt.
61 and Dkt. 62) are incorporated into this Order and are APPROVED.
3. All objections to the Settlement are OVERRULED.
4. The parties to this proceeding, the parties to the Settlement, and the Settlement
Administrator shall perform their respective obligations under the Settlement and this
Order.
5. Plaintiffs’ motion for Award of Reasonable Attorney Fees, Costs, and Incentive
Awards for Class Representatives and Members is GRANTED.
6. Out of the common fund, Co-Lead Counsel are awarded total attorney fees of
$1,220,000.00.
7. Out of the common fund, Co-Lead Counsel are awarded costs of $40,193.87. Class
counsel is also authorized to pay the final billing of the Claims Administrator and
receive reimbursement from the common fund.
8. Out of the common fund, each Class Representative is each awarded $2,000.00 as an

Page 12 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

incentive award. Out of the common fund, each Class Member that attended the two
day mediation in Seattle, Washington is awarded $1,000 per day of attendance (the
total shall not exceed $8,000.00, and no Class Representative family to receive more
than $2,000).
9. A payment of $4,900,000.00 shall be made to the Claims Administrator, KCC, LLC
by wire transfer to an account identified by KCC by or on behalf of Douglas R. Bean
and Megan Suzanne Bean; S. Christopher Bean and Jodi J. Bean, Jonathan Bishopp
and Monica Bishopp, and Bean Holdings LLC, and their insurance carrier, Liberty
Surplus Insurance Corporation not later than 61 days from the entry of this Order.
10. A payment of $1,200,000.00 shall be made to the Claims Administrator, KCC, LLC
by wire transfer to an account identified by KCC by or on behalf of Norman Gary
Price and Christina Price, Ronald J. Robertson and Kathryn Robertson, Timothy
Feehan, Jr. and Kimberly A. Feehan, Antonio Ramirez and Wendy Ramirez; Aaron
Maurer and Laura Maurer; RP Capital, LLC; Strategic Capital Alternatives, LLC and
SCA Holdings, and RP Capital's Insurance carrier, Lloyd's of London, in accordance
with their joint payment obligations under the Stipulation of Settlement not later than
31 days from the entry of this Order.
11. Upon receipt of each of the settlement payments identified above, the Claims
Administrator shall pay 20% of such payments as attorney fees, plus $40,193.87 for
reimbursement of costs (such costs to be paid from each settlement payment in an
amount equal to the percentage of the payment received to the total settlement
payments of $6,100,000.00), to Co-Lead Counsel by wire transfer to an account

Page 13 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

identified by Co-Lead Counsel.
12. After paying the costs and reasonable attorney fees identified above, as well as any
other reasonable expenses incurred by the Claims Administrator and approved by
Plaintiffs’ Class Counsel, the Claims Administrator shall promptly mail checks to the
members of the Plaintiff Class for their proportional share of the remaining settlement
funds in the amount calculated by the Claims Administrator using the net-out-of–
pocket formula.
13. Pursuant to the terms of the Settlement Agreement, the instant action will be
dismissed with prejudice, subject to all other conditions in these Findings,
Conclusions, and Order.
14. Without affecting the finality of this Order in any way, the Court hereby retains
jurisdiction to resolve any dispute regarding compliance with the Settlement
Agreement that cannot be resolved though the meet and confer process.
15. The Court hereby permanently restrains and enjoins any member of the class from
initiating or engaging in any arbitration or litigation against the RPC Settling Parties
asserting allegations of wrongdoing in any way relating to the purchase or sale of
investments in Aequitas Management, LLC, any other Aequitas entity, or any
Aequitas Receivership entity.
16. Without limiting the foregoing, the Court hereby permanently restrains and enjoins
the following FINRA arbitrations from proceeding against any of the Responding
Defendants, Joel Price, Antonio Ramirez, and/or Aaron Douglas Maurer (and their
marital communities):

Page 14 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

•

Nassar, et al. v. RP Capital, et al., FINRA Case No. 16-00943;

•

Reiss, et al. v. RP Capital, et al., FINRA Case No. 16-01610;

•

Fluegel, et al. v. RP Capital, et al., FINRA Case No. 16-01967;

•

Martens v. RP Capital, et al., FINRA Case No. 16-03187; and

•

Wu v. RP Capital, et al., FINRA Case No. 17-00594.

17. The Court does not restrain or enjoin the claimants in the Fluegel arbitration from
proceeding with their claims against Respondent Kristofor R. Behn.
18. Nothing in this Order shall (i) modify, amend, or supersede any Order issued in the
Receivership Proceeding which is pending in this Court (Dkt. No. 3:16-cv-00438PK), (ii) waive or release any claim, cause of action, or right belonging to the
Receiver or Receivership Entity (Receiver or Receivership claims do not include
claims of class members released by this Settlement), or (iii) establish any precedent
for any future distribution of any funds in any way relating to the Receivership
Proceeding.
IT IS SO ORDERED.

DATED October _____, 2017.

______________________________________
The Honorable Marco A. Hernandez
U.S. District Court Judge
Presented by:
SAMUELS YOELIN KANTOR LLP
By: /s/ Robert S. Banks, Jr.
ROBERT S. BANKS, JR.,OSB No. 821862
Page 15 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]

Telephone: [phone]
Facsimile: 503-222-2937
[e-mail]
CABLE, LANGENBACH, KINERK & BAUER, LLP
By: /s/ Lawrence R. Cock
LAWRENCE R. COCK, OSB No. 102524
Telephone: [phone]
Facsimile: 206- 292-0494
[e-mail]

Page 16 – Amended Order Approving Class Action
Settlement, Awarding Attorney Fees, Expenses, and
Incentive Payments, and Granting Permanent
Injunction

SAMUELS YOELIN KANTOR LLP
Attorneys at Law
111 SW 5th Ave., Suite 3800
Portland, OR 97204-3642
Telephone [phone]
Facsimile [phone]