Filed: Jun. 08, 2015
Latest Update: Jun. 08, 2015
Summary: STIPULATION AND ORDER SUSPENDING DEADLINES AS TO DEFENDANT AKBARI HAYWOOD S. GILLIAM, Jr. , District Judge . Plaintiff Securities and Exchange Commission ("Commission" or "SEC") and defendant Ammar Akbari hereby submit the following Stipulation and Proposed Order, and request that the Court continue the suspension of deadlines as to Akbari, as follows: WHEREAS, pursuant to the request by the SEC and Defendant Akbari, the Court entered the stipulated Proposed Order on March 2, 2015, suspend
Summary: STIPULATION AND ORDER SUSPENDING DEADLINES AS TO DEFENDANT AKBARI HAYWOOD S. GILLIAM, Jr. , District Judge . Plaintiff Securities and Exchange Commission ("Commission" or "SEC") and defendant Ammar Akbari hereby submit the following Stipulation and Proposed Order, and request that the Court continue the suspension of deadlines as to Akbari, as follows: WHEREAS, pursuant to the request by the SEC and Defendant Akbari, the Court entered the stipulated Proposed Order on March 2, 2015, suspendi..
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STIPULATION AND ORDER SUSPENDING DEADLINES AS TO DEFENDANT AKBARI
HAYWOOD S. GILLIAM, Jr., District Judge.
Plaintiff Securities and Exchange Commission ("Commission" or "SEC") and defendant Ammar Akbari hereby submit the following Stipulation and Proposed Order, and request that the Court continue the suspension of deadlines as to Akbari, as follows:
WHEREAS, pursuant to the request by the SEC and Defendant Akbari, the Court entered the stipulated Proposed Order on March 2, 2015, suspending deadlines as to Defendant Akbari for 90 days. The stipulation was based upon the estimated time needed for submission to the Commission of the terms of a settlement offer, for its approval or rejection;
WHEREAS counsel for the SEC underestimated the amount of time that would be required to present the matter to the Commission for approval or rejection, and now estimates that a further six weeks will be required before the matter can be considered;
WHEREAS defendant Akbari will lose much of the value of making a settlement offer if he is nevertheless required to answer the complaint or to participate in the upcoming events, including the Case Management Conference scheduled for June 23, 2015, and the filing of the joint CMC Statement no later than June 16, 2015;
ACCORDINGLY, it is HEREBY STIPULATED by and between the undersigned parties that Defendant Akbari should be relieved of the obligation to meet deadlines in this case for a period of 90 days from the date of the filing of this Stipulation. If, within the 90 days, the Commission has considered and either approved or rejected the settlement offer, the SEC and Defendant Akbari will so inform the Court immediately.
IT IS SO STIPULATED.
ORDER
Good cause appearing from the above Stipulation, the requested 90-day suspension of all deadlines as to Defendant Ammar Akbari is hereby GRANTED. IT IS HEREBY ORDERED THAT the Plaintiff Securities and Exchange Commission and Defendant Ammar Akbari will report to the Court no later than 90 days from the date of entry of this Order to inform the Court whether a settlement between them has been approved by both parties.
IT IS SO ORDERED.
