JOINT STATUS REPORT AND UPDATED CASE MANAGEMENT CONFERENCE STATEMENT; ORDER

EDWARD M. CHEN, District Judge.

This matter is currently set for a Further Case Management Conference on March 20, 2014. The parties submit this Joint Status Report and Updated Case Management Conference Statement to update the Court on the status of the proceedings in this civil case. The defendants remaining in this action are also involved in pending criminal cases, with sentencing hearings for each defendant currently set for dates in April and May 2014.

There are four remaining defendants in this insider trading action brought by the Securities and Exchange Commission ("Commission"), (1) Maher Kara, (2) Michael Kara, (3) Bassam Salman, and (4) Karim Bayyouk. Each of the defendants in the Commission action is also a defendant in related criminal matters arising from the insider trading allegations or investigation that are also the subject of the Commission's enforcement action. Maher Kara and Michael Kara have pled guilty but have not been sentenced (U.S. v. Kara, et al., Case No. 09-CR-0417 EMC). Michael Kara is scheduled to be sentenced on May 14, 2014, and Maher Kara is scheduled to be sentenced on May 21, 2014.

On September 30, 2013, a jury returned a guilty verdict regarding the charges against Bassam Salman, U.S. v. Bassam Yacoub Salman, Case No. 11-CR-0625 EMC. The Court has scheduled a sentencing hearing regarding Mr. Salman for April 9, 2014.

On September 3, 2013, a jury returned a guilty verdict regarding the charge against Karim Bayyouk, U.S. v. Karim Iskander Bayyouk, Case No. 12-CR-0420 EMC. The Court has scheduled a sentencing hearing regarding Mr. Bayyouk for April 16, 2014.

No trial date has been set for the Commission's civil action, and dates regarding discovery deadlines and pretrial dates have been vacated by prior orders. The Court held a case management conference in this case on October 26, 2012, the last time the parties to the civil case appeared before the Court, and directed the Commission matter stayed until the criminal matters are resolved. (Docket No. 113) On November 22, 2013, the Court continued the Further Case Management Conference until March 20, 2014 (after the criminal sentencing dates that were at that time set for January). The parties believe it is premature to set a discovery schedule until the criminal cases are resolved.

In accordance with General Order 45, each of the signatories to this document has concurred in its filing, and I shall maintain records to support these concurrences.

IT IS SO ORDERED that the further CMC is reset from 3/20/14 to 6/26/14 at 10:30 a.m. An updated joint CMC Statement shall be filed by 6/19/14.