Sullivan v. SII Investments, Inc., 18-cv-00666-SI. (2018)
Court: District Court, N.D. California
Number: infdco20180309c50
Visitors: 7
Filed: Mar. 08, 2018
Latest Update: Mar. 08, 2018
Summary: ORDER DIRECTING RESPONSE Re: Dkt. No. 32 SUSAN ILLSTON , District Judge . The Court is considering plaintiffs' motion for leave to file a motion for partial reconsideration of this Court's Order (Dkt. No. 30) denying plaintiffs' application for a TRO. Among other things, plaintiffs assert in that motion that defendant SII Investment, Inc. has "block[ed] the transfer of accounts" for which plaintiffs' clients have submitted the necessary paperwork to transfer their accounts to plaintiffs' c
Summary: ORDER DIRECTING RESPONSE Re: Dkt. No. 32 SUSAN ILLSTON , District Judge . The Court is considering plaintiffs' motion for leave to file a motion for partial reconsideration of this Court's Order (Dkt. No. 30) denying plaintiffs' application for a TRO. Among other things, plaintiffs assert in that motion that defendant SII Investment, Inc. has "block[ed] the transfer of accounts" for which plaintiffs' clients have submitted the necessary paperwork to transfer their accounts to plaintiffs' cu..
More
ORDER DIRECTING RESPONSE
Re: Dkt. No. 32
SUSAN ILLSTON, District Judge.
The Court is considering plaintiffs' motion for leave to file a motion for partial reconsideration of this Court's Order (Dkt. No. 30) denying plaintiffs' application for a TRO. Among other things, plaintiffs assert in that motion that defendant SII Investment, Inc. has "block[ed] the transfer of accounts" for which plaintiffs' clients have submitted the necessary paperwork to transfer their accounts to plaintiffs' current brokerage firm. Dkt. No. 35 at ¶ 8-10. Plaintiffs allege this block is not industry protocol, that the custodial broker-dealer Pershing refused to process the transfer because the accounts were "blocked" and that SSI has imposed the block. Plaintiffs also allege that when they inquired as to the status of their accounts SII told them "[a]ll your accounts are frozen."
The Court directs defendant to respond in writing on this issue, explaining whether, when and by what authority any such block was imposed. Such response shall be filed no later than March 12, 2018.
IT IS SO ORDERED.
Source: Leagle
