Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-caed-1_17-cv-00888/USCOURTS-caed-1_17-cv-00888-21/pdf.json

Nature of Suit Code: 160
Nature of Suit: Stockholder's Suits
Cause of Action: 28:1332 Diversity-Breach of Fiduciary Duty

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UNITED STATES DISTRICT COURT

EASTERN DISTRICT OF CALIFORNIA

RICARDO TORRES,

Plaintiff,

v.

LA FAVORITA BROADCASTING, INC. et 

al.,

Defendants.

Case No. 1:17-cv-00888-SAB

ORDER GRANTING PARTIES’ REQUEST 

FOR EXTENSION OF TIME TO FILE 

DISPOSITIONAL DOCUMENTS

(ECF No. 82)

On August 10, 2020, the parties filed a notice of settlement informing the Court that the 

parties had reached settlement resolving this action and requested ninety (90) days to file 

dispositional documents due to the settlement requiring advanced regulatory approval. (ECF No. 

80.) The Court granted the request and ordered dispositional documents to be filed on or before 

November 9, 2020. (ECF No. 81.) On November 9, 2020, the parties filed a stipulation 

requesting an extension until December 31, 2020, to file dispositional documents. (ECF No. 82.) 

The parties proffer that immediately after filing the notice of settlement, they negotiated the 

terms of an asset purchase agreement (“APA”) that would govern the transaction; however, the 

APA required more negotiation than anticipated, ultimately taking more than a month to 

complete. (Id.) At this time, the only thing holding up the filing of the regulatory application for 

approval has been the logistical issue of needing to form an ownership entity for Plaintiff’s 

interest in the transaction, and Plaintiff reports they have filed the necessary paperwork, and 

anticipate receiving confirmation of the formation within seven (7) days. (Id.) Once the entity 

Case 1:17-cv-00888-SAB Document 83 Filed 11/10/20 Page 1 of 2
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formation is complete, the parties expect to amend the APA to incorporate the ownership entity, 

then file the regulatory application, and are informed it will take approximately forty-five (45) 

days for the application to be approved after it is filed with the regulatory agency. (Id.) The 

Court finds good cause to extend the deadline. 

Accordingly, it is HEREBY ORDERED that the parties shall file dispositional documents 

on or before December 31, 2020.

IT IS SO ORDERED.

Dated: November 10, 2020 

UNITED STATES MAGISTRATE JUDGE

Case 1:17-cv-00888-SAB Document 83 Filed 11/10/20 Page 2 of 2