Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-4_14-cv-02743/USCOURTS-cand-4_14-cv-02743-13/pdf.json

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

---

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

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) 

STATUS REPORT, STIPULATION, 

AND ORDER SUSPENDING 

DEADLINES AS TO DEFENDANTS 

AKBARI AND MENDONSA 

 

UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA 

SAN FRANCISCO DIVISION 

Case 4:14-cv-02743-HSG Document 99 Filed 09/09/15 Page 1 of 6
STATUS REPORT, STIPULATION, AND PROPOSED ORDER 1 CASE NO. C-3:14-CV-02743-HSG

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

 Plaintiff Securities and Exchange Commission (“Commission” or “SEC”) and Defendants 

Ammar Akbari and Ranjan Mendonsa hereby submit the following Status Report, Stipulation, and 

Proposed Order, and request that the Court continue the suspension of deadlines as to Akbari and 

Mendonsa, as follows: 

 WHEREAS, pursuant to the request by the SEC and Defendant Akbari, the Court entered a 

stipulated Proposed Order on March 2, 2015, suspending deadlines as to Defendant Akbari for 90 

days. The Court entered a second stipulated Proposed Order on June 9, 2015 (ECF No. 84), 

suspending deadlines as to Defendant Akbari for an additional 90 days. These stipulations were 

based upon the estimated time needed for submission to the Commission of the terms of a settlement 

offer, for its approval or rejection; 

WHEREAS, pursuant to the request by the SEC and Defendant Mendonsa, the Court entered 

a Stipulation and Order on June 30, 2015 (ECF No. 92), suspending all deadlines as to Defendant 

Mendonsa to September 8, 2015. 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, pursuant to the Court’s Orders dated June 9, 2015, and June 30, 2015, the SEC 

and Defendants Akbari and Mendonsa are reporting to the Court the status of the formal approval of 

their respective proposed settlements; 

WHEREAS, counsel for the SEC has submitted its recommendation to the Commission to 

approve the respective settlements with Defendants Akbari and Mendonsa; however, counsel for the 

SEC underestimated the amount of time that would be required for the Commission to consider the 

proposed settlements for approval or rejection, and now estimates that an additional 30 days, up to 

and including October 8, 2015, may be required before the matter will be considered by the 

Commission; 

 WHEREAS, Defendants Akbari and Mendonsa will lose much of the value of making a 

settlement offer if they are nevertheless required to answer the complaint or to participate in 

discovery; 

ACCORDINGLY, it is HEREBY STIPULATED by and between the undersigned parties that 

Defendants Akbari and Mendonsa should be relieved of the obligation to meet deadlines in this case 

Case 4:14-cv-02743-HSG Document 99 Filed 09/09/15 Page 2 of 6
STATUS REPORT, STIPULATION, AND PROPOSED ORDER 2 CASE NO. C-3:14-CV-02743-HSG

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

for a period of 30 days from the date of the filing of this Stipulation. If, within the 30 days, the 

Commission has considered and either approved or rejected the settlement offer, the SEC and 

Defendants Akbari and Mendonsa will so inform the Court immediately. 

IT IS SO STIPULATED: 

DATED: September 8, 2015 /s/ E. Barrett Atwood 

E. Barrett Atwood (SBN 291181) 

Susan F. LaMarca (SBN 215231) 

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. 

KANE+KIMBALL LLP 

803 Hearst Avenue 

Berkeley, CA 94710 

Counsel for Defendant Ammar Akbari 

 

 /s/ Charlene S. Shimada 

MORGAN, LEWIS & BOCKIUS LLP 

Charlene S. Shimada (SBN 91407) 

One Market, Spear Street Tower 

San Francisco, CA 94105 

Counsel for Defendant Ranjan Mendonsa 

 

Case 4:14-cv-02743-HSG Document 99 Filed 09/09/15 Page 3 of 6
STATUS

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

deadli

HERE

Amma

entry 

partie

S REPORT, STIP

Good caus

ines as to De

EBY ORDER

ar Akbari an

of this Order

s. 

IT IS SO O

DATED: 

 

 

PULATION, AND

se appearing

efendants Am

RED THAT

nd Ranjan M

r to inform t

ORDERED. 

9/9/2015 

D PROPOSED OR

 from the ab

mmar Akbar

 the Plaintiff

Mendonsa wil

the Court wh

RDER 3

ORDE

bove Stipulat

ri and Ranjan

ff Securities a

ll report to th

hether a settl

H

U

3

ER

tion, the requ

n Mendonsa

and Exchang

he Court no 

lement betw

Haywood S. 

UNITED STA

CAS

uested 30-da

a is hereby G

ge Commiss

later than 30

een them ha

 

Gilliam, Jr. 

ATES DIST

SE NO. C-3:14-

ay suspensio

GRANTED. 

sion and Def

0 days from 

as been appro

TRICT JUDG

CV-02743-HSG

on of all 

IT IS 

fendants 

the date of 

oved by both

GE 

G

h

Case 4:14-cv-02743-HSG Document 99 Filed 09/09/15 Page 4 of 6
STATUS REPORT, STIPULATION, AND PROPOSED ORDER 4 CASE NO. C-3:14-CV-02743-HSG

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

ATTESTATION 

 I, E. Barrett Atwood, am the ECF User whose identification and password are being used to 

file the Status Report, 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: September 8, 2015 /s/ E. Barrett Atwood 

E. Barrett Atwood 

Attorney for Plaintiff 

SECURITIES AND EXCHANGE COMMISSION 

Case 4:14-cv-02743-HSG Document 99 Filed 09/09/15 Page 5 of 6
STATUS REPORT, STIPULATION, AND PROPOSED ORDER 5 CASE NO. C-3:14-CV-02743-HSG

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

CERTIFICATE OF SERVICE 

I, Janet Bukowski, am a citizen of the United States, over 18 years of age and not a party to 

this action. On September 8, 2015, I served the following documents: 

 STATUS REPORT, STIPULATION, AND PROPOSED ORDER SUSPENDING 

DEADLINES AS TO DEFENDANTS AKBARI AND MENDONSA 

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. 

Kane+Kimball LLP 

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 

One Market, Spear Street Tower 

San Francisco, CA 94105 

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 September 8, 2015. 

 /s/ Janet Bukowski 

Janet Bukowski 

Case 4:14-cv-02743-HSG Document 99 Filed 09/09/15 Page 6 of 6