10 results for 'cat:"Securities" AND cat:"Discovery"'.
J. Nye denies investors' motions to modify the scheduling order, for leave to amend, to reopen discovery and for reconsideration in a landfill acquisition project investment dispute. The investors' "newly discovered evidence could have easily been discovered at any point prior to or during this litigation." They do not cite unforeseen circumstances that prevented them from seeking the records earlier. The investors do not address their "untimely delay in requesting the records and petitioning this Court for modification, amendment, and reconsideration."
Court: USDC Idaho, Judge: Nye, Filed On: April 15, 2024, Case #: 1:20cv544, NOS: Securities/Commodities/Exchange - Other Suits, Categories: Fraud, securities, discovery
J. Bloom dismisses the Commission's appeal of a magistrate judge's denial of its application of an order requiring compliance with an administrative subpoena in its investigation of suspected insider trading in connection with the acquisition of Office Depot by Staples. The magistrate judge did not clearly err in finding that the subpoena was testimonial in nature and therefore subject to fifth-amendment privilege, nor in finding that it had failed to satisfy the "foregone conclusion" test under which otherwise testimonial acts of production may be compelled because the government is already aware of the produced material.
Court: USDC Southern District of Florida, Judge: Bloom, Filed On: February 15, 2024, Case #: 1:23cv22764, NOS: Other Statutory Actions - Other Suits, Categories: securities, discovery, Privilege
J. Matsumoto grants a motion to intervene filed by the district’s U.S. Attorney and stays a securities fraud action pending resolution of a related criminal case filed in the U.S. Eastern District of New York. The lead defendant in the case was indicted on charges related to the same actions that the SEC cited in its complaint, which alleges he and other individuals defrauded over 4,000 investors of more than $528 million in investment funds. The court agrees with the government’s assertions that it has a strong interest in preventing discovery in the civil case from circumventing the more limited discovery proceedings in the criminal trial.
Court: USDC Eastern District of New York, Judge: Matsumoto, Filed On: February 5, 2024, Case #: 2:23cv8953, NOS: Securities/Commodities/Exchange - Other Suits, Categories: Fraud, securities, discovery
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J. Dorsey grants the private equity investment firm's motion for a temporary restraining order prohibiting its former employee from sharing confidential information, directing him to return it. The firm has shown a likelihood of success on its claim that trade secrets were misappropriated when the employee downloaded confidential files. The district court also grants the firm's motion to seal an exhibit to its motion and to conduct early discovery before a preliminary injunction hearing as releasing the information could potentially damage the firm.
Court: USDC Nevada, Judge: Dorsey , Filed On: September 15, 2023, Case #: 2:23cv1339, NOS: Defend Trade Secrets Act of 2016 (DTSA) - Property Rights, Categories: securities, Trade Secrets, discovery
Master David grants a shareholder access to company books and records so he can value his shares and exit his investment through a sale. All arguments were abandoned at trial save for the purported cancellation of shares for failure to pay a "subscription receivable," which fails due to non-compliance with statutory procedures and failure to document the debt.
Court: Delaware Chancery Court, Judge: David, Filed On: July 27, 2023, Case #: 2023-0241-BWD, Categories: Civil Procedure, securities, discovery
J. Seitz finds that the lower court properly held that a shareholder of an over-the-counter, publicly-traded company that "went dark" in 2013 did not need to be subjected to confidentiality restrictions to obtain books and records. The court properly exercised its discretion in finding that weak arguments had been made against disclosing financial statements when weighed against the shareholder's identified interests in the financial statements. Affirmed.
Court: Delaware Supreme Court, Judge: Seitz, Filed On: July 10, 2023, Case #: 442, 2022, Categories: securities, discovery
J. Liman partially grants the SEC's motion to compel production of documents in a lawsuit over an alleged scheme to defraud investors by releasing misleading information about RenovaCare and its experimental device for treating burn wounds called the "SkinGun." The agency may seek documents from the company's consultant because he was closely integrated into the company's business and involved in helping with key tasks. However, the SEC has not shown the consultant was a de facto employee.
Court: USDC Southern District of New York, Judge: Liman, Filed On: July 10, 2023, Case #: 1:21cv4777, NOS: Securities/Commodities/Exchange - Other Suits, Categories: securities, discovery
[Consolidated.] J. Silvain grants, in part, the bankrupt company's motion to compel discovery in a fraudulent inducement case, ruling that inquiries about the purchasing company's financial state at the time it failed to make payments to the bankrupt company, which ultimately led to its dissolution, are integral to the case and must be answered with financial documents or other relevant information.
Court: USDC Southern District of Ohio, Judge: Silvain, Filed On: June 27, 2023, Case #: 3:17cv347, NOS: Securities/Commodities/Exchange - Other Suits, Categories: Fraud, securities, discovery