Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-4_14-cv-02743/USCOURTS-cand-4_14-cv-02743-8/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:78m(a) Securities Exchange Act

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JINA L. CHOI (N.Y. Bar No. 2699718)

SUSAN F. LaMARCA (Cal. Bar No. 215231)

 lamarcas@sec.gov

E. BARRETT ATWOOD (Cal. Bar No. 291181)

 atwoode@sec.gov

VICTOR HONG (Cal. Bar No. 165938)

 hongv@sec.gov

Attorneys for Plaintiff

SECURITIES AND EXCHANGE COMMISSION

44 Montgomery Street, Suite 2800

San Francisco, California 94104

Telephone: (415) 705-2500

Facsimile: (415) 705-2501

SECURITIES AND EXCHANGE COMMISSION,

Plaintiff,

v.

SALEEM KHAN, et al.,

 Defendants,

Case No. 3:14-CV-02743-HSG (DMR)

STIPULATION AND PROPOSED

ORDER SUSPENDING DEADLINES AS 

TO DEFENDANT AKBARI

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

SAN FRANCISCO DIVISION

Case 4:14-cv-02743-HSG Document 65 Filed 03/02/15 Page 1 of 6
STIPULATION AND PROPOSED ORDER 1 CASE NO. C-3:14-CV-02743-HSG

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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 suspend upcoming deadlines as to Akbari, as follows:

WHEREAS counsel for the Commission, and counsel for Defendant Akbari have been 

working for months to determine whether a settlement of the Commission’s case as to Akbari could 

be reached;

WHEREAS the Commission’s counsel and Akbari’s counsel have arrived at a settlement in 

principle that the Commission’s counsel expects to recommend to the Commission itself for 

consideration and approval or disapproval;

WHEREAS the process for obtaining Commission consideration and approval requires a 

formal presentation of an offer to the commissioners who sit in Washington, D.C., and given the 

press of their business, the process typically takes approximately eight weeks to complete;

WHEREAS a Settlement Conference before Magistrate Judge Ryu is scheduled for March 13, 

2015, at which the parties and their counsel are ordered to attend;

WHEREAS defendant Akbari will lose much of the value of making a settlement offer early 

in this litigation (before the Settlement Conference and before the resumption of discovery and before 

his Answer is due) if he is nevertheless required to attend such events at substantial cost to him;

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.

Case 4:14-cv-02743-HSG Document 65 Filed 03/02/15 Page 2 of 6
STIPULATION AND PROPOSED ORDER 2 CASE NO. C-3:14-CV-02743-HSG

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IT IS SO STIPULATED: 

DATED: February 27, 2015 /s/ Susan F. LaMarca

Susan F. LaMarca, Esq.

SECURITIES AND EXCHANGE 

COMMISSION

44 Montgomery Street, Suite 2800

San Francisco, CA 94104

Counsel for the Plaintiff

/s/ William H. Kimball

William H. Kimball, Esq.

LAW OFFICES OF WILLIAM H. KIMBALL

803 Hearst Avenue

Berkeley, CA 94710

Counsel for Defendant Ammar Akbari

Case 4:14-cv-02743-HSG Document 65 Filed 03/02/15 Page 3 of 6
STIPULATION AND PROPOSED ORDER 3 CASE NO. C-3:14-CV-02743-HSG

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[PROPOSED] 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.

DATED: March 2, 2015

Haywood S. Gilliam, Jr.

UNITED STATES DISTRICT JUDGE

Case 4:14-cv-02743-HSG Document 65 Filed 03/02/15 Page 4 of 6
STIPULATION AND PROPOSED ORDER 4 CASE NO. C-3:14-CV-02743-HSG

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ATTESTATION

I, Susan F. LaMarca, am the ECF User whose identification and password are being used to 

file the Stipulation and Proposed Order. I hereby attest that each of the above parties or their 

representatives concurs in this filing to the extent indicated.

Dated: February 27, 2015 /s/ Susan F. LaMarca

Susan F. LaMarca

Attorney for Plaintiff

SECURITIES AND EXCHANGE COMMISSION

Case 4:14-cv-02743-HSG Document 65 Filed 03/02/15 Page 5 of 6
STIPULATION AND PROPOSED ORDER 5 CASE NO. C-3:14-CV-02743-HSG

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CERTIFICATE OF SERVICE

I, Karl Roeseler, am a citizen of the United States, over 18 years of age and not a party to this 

action. On March 2, 2015, I served the following documents:

 STIPULATION AND PROPOSED ORDER SUSPENDING DEADLINES AS TO 

DEFENDANT AKBARI 

via e-mail and U.S. Mail, postage pre-paid, to the following:

Roshanlal Chaganlal

4883 Thornpike Lane

Dublin, CA 94568

rchaganlal@gmail.com

The following defendants were served via the Court’s CM/ECF system:

William H. Kimball, Esq.

Law Offices of William H. Kimball

803 Hearst Avenue

Berkeley, CA 94710

Attorney for Defendant Ammar Akbari

Christopher Cannon, Esq.

Sugarman & Cannon

180 Montgomery Street, Suite 2350

San Francisco, CA 94104

Attorney for Defendant Saleem Khan

Charlene S. Shimada, Esq.

Morgan, Lewis & Bockius LLP

Three Embarcadero Center

San Francisco, CA 94111-4067

Attorney for Defendant Ranjan Mendonsa

I declare under penalty of perjury that the statements made above are true and correct. 

Executed in San Francisco, California March 2, 2015.

 /s/ Karl Roeseler 

Karl Roeseler

Case 4:14-cv-02743-HSG Document 65 Filed 03/02/15 Page 6 of 6