United States Securities and Exchange Commission v. Benjamin Wey, et al.

MEMORANDUM OF LAW in Opposition re: 86 LETTER MOTION for Leave to File Motion to Intervene and for a Limited Stay addressed to Judge P. Kevin Castel from Michael Ferrara dated 8 Mar. 2016., 82 MOTION to Stay This Case Pending the Resolution of the Related Criminal Case. Omnibus Memorandum of Law In Response to Defendants Benjamin and Michaela Wey's Motion To Stay And In Response To The Government's Request For Permission To Intervene And For A Limited Stay Of The Action. Document

11 Cited authorities

Gabelli v. Sec. & Exch. Comm'n
568 U.S. 442 (2013) Cited 314 times 96 Legal Analyses
Holding that statute of limitations for SEC enforcement actions begins when fraudulent action occurs
Louis Vuitton Malletier S.A. v. LY USA, Inc.
676 F.3d 83 (2d Cir. 2012) Cited 467 times 2 Legal Analyses
Holding that an "award of attorney's fees is available under 1117 in 'exceptional' cases even for those plaintiffs who opt to receive statutory damages under 1117(c)"
Trustees of Plumbers Pen. v. Transworld
886 F. Supp. 1134 (S.D.N.Y. 1995) Cited 255 times 1 Legal Analyses
Holding in May of 1995 that "the Criminal Case should be completed by the end of this year, which would not unreasonably prolong this case"
Langer v. Monarch Life Ins. Co.
966 F.2d 786 (3d Cir. 1992) Cited 127 times
Holding in part that district court erred in reading defendant's binding admissions too broadly
Securities Exchange Commission v. Treadway
04 Civ. 3464 (VM) (JCF) (S.D.N.Y. Mar. 30, 2005) Cited 18 times
Stating that where the SEC does not take a position on a Government motion for a stay, it "has not articulated an interest that requires consideration"
U.S. Securities Exchange Commission v. Cioffi
Case No. 08-CV-2457 (FB) (VVP) (E.D.N.Y. Oct. 23, 2008) Cited 13 times
Interpreting Chestman to support only the government's interest in intervening, not its interest "[w]ith respect to a stay of discovery."
Sec. & Exch. Comm'n v. Mazzo
Case No. SACV 12-1327-DOC(ANx) (C.D. Cal. Feb. 25, 2013) Cited 6 times 1 Legal Analyses
Denying U.S. Attorney's motion to stay and stating "broad claims of possible abuse" of civil discovery "are generally not sufficient to support a stay"
SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. Anuradha D. SAAD, Richard P. Adelson, David J. Cammarata, Peter Torres, Robert McKie, Karin Gardner, and Kenneth Jugan, Defendants.
229 F.R.D. 90 (S.D.N.Y. 2005) Cited 12 times
Describing motions to stay in such situations as "bizarre" given "that the U.S. Attorney's Office, having closely coordinated with the SEC in bringing simultaneous civil and criminal actions against some hapless defendant, should then wish to be relieved of the consequences that will flow if the two actions proceed simultaneously."
Securities Exchange Commission v. Jones
No. 04 Civ. 4385 (RWS) (S.D.N.Y. Oct. 28, 2005) Cited 3 times
No. 04 Civ. 4385 (RWS). October 28, 2005 MEMORANDUM OPINION ROBERT SWEET, Senior District Judge The United States of America (the "Government") has moved to intervene in this action and to stay discovery during the pendency of United States v. Robert Goehring, 05 Cr. 209 (JES), in which the defendant is charged with insider trading in the securities of Gerber Scientific, Inc. ("Gerber") during the same period of time that defendant Mark Godden ("Godden") in this action is charged with insider trading
Rule 9 - Pleading Special Matters
Fed. R. Civ. P. 9 Cited 38,849 times 316 Legal Analyses
Permitting "[m]alice, intent, knowledge, and other conditions of a person's mind [to] be alleged generally"
Rule 36 - Requests for Admission
Fed. R. Civ. P. 36 Cited 6,078 times 12 Legal Analyses
Noting that facts admitted pursuant to a Rule 36 discovery request are "conclusively established unless the court, on motion, permits the admission to be withdrawn or amended"

United States Securities and Exchange Commission v. Benjamin Wey, et al.

11 Cited authorities

Holding that statute of limitations for SEC enforcement actions begins when fraudulent action occurs

Holding that an "award of attorney's fees is available under 1117 in 'exceptional' cases even for those plaintiffs who opt to receive statutory damages under 1117(c)"

Holding in May of 1995 that "the Criminal Case should be completed by the end of this year, which would not unreasonably prolong this case"

Holding in part that district court erred in reading defendant's binding admissions too broadly

Stating that where the SEC does not take a position on a Government motion for a stay, it "has not articulated an interest that requires consideration"

Interpreting Chestman to support only the government's interest in intervening, not its interest "[w]ith respect to a stay of discovery."

Denying U.S. Attorney's motion to stay and stating "broad claims of possible abuse" of civil discovery "are generally not sufficient to support a stay"

Permitting "[m]alice, intent, knowledge, and other conditions of a person's mind [to] be alleged generally"

Noting that facts admitted pursuant to a Rule 36 discovery request are "conclusively established unless the court, on motion, permits the admission to be withdrawn or amended"