Securities and Exchange Commission v. Wealth Management LLC et al

Filing 42

ORDER EXTENDING STAY OF ANCILLARY LITIGATION. IT IS HEREBY ORDERED that the Temporary Order Granting Receiver's Motion to Stay Ancillary Litigation entered on June 16, 2009, is hereby extended, even as to the individually named defendants, pendi ng a hearing on September 9, 2009, at 1:30 p.m., at which time interested investors, creditors and other third parties will have further opportunity to oppose the Receiver's Motion to Stay, signed by Judge William C Griesbach on June 30, 2009. (cc: all counsel)(Griesbach, William)

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF WISCONSIN GREEN BAY DIVISION SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. Civil Action No: 09-C-506 WEALTH MANAGEMENT LLC; JAMES PUTMAN; and SIMONE FEVOLA, Defendants, and WML GRYPHON FUND LLC; WML WATCH STONE PARTNERS, L.P.; WML PANTERA PARTNERS, L.P.; WML PALISADE PARTNERS, L.P.; WML L3, LLC; and WML QUETZAL PARTNERS, L.P. Relief Defendants.

ORDER EXTENDING STAY OF ANCILLARY LITIGATION

This court having temporarily granted the Receiver's Motion to Stay Ancillary Litigation, and after further consideration of the Receiver's motion, the affidavit and exhibits filed in support thereof, and the additional arguments of counsel for all parties as presented at the hearing on June 26, 2009, the Court in its sound discretion finds that: 1. This Court has jurisdiction to stay litigation that is ancillary to the above-captioned

action pursuant to U.S.C.A. §1367(a). 2. An Order Extending Stay of Ancillary Litigation is necessary to preserve the status

quo, protect the interests of investors, creditors and other interested third parties, and to protect the Receiver's ability to fulfill her court-ordered duties.

NOW, THEREFORE, IT IS HEREBY ORDERED that the Temporary Order Granting Receiver's Motion to Stay Ancillary Litigation entered on June 16, 2009, is hereby extended, even as to the individually named defendants, pending a hearing on September 9, 2009, 1:30 p.m., at which time interested investors, creditors and other third parties will have further opportunity to oppose the Receiver's Motion to Stay. Dated this 30th day of June, 2009.

s/ William C. Griesbach WILLIAM C. GRIESBACH U.S. DISTRICT COURT JUDGE

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