Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_18-cv-05080/USCOURTS-cand-3_18-cv-05080-0/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:77 Securities Fraud

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STIPULATION RE EXPEDITED DISCOVERY SEC V. ROTHENBERG, ET AL. 

CASE NO. 3:18-CV-05080-JST 

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

C. DABNEY O’RIORDAN (Cal. Bar No. 205158) 

ERIN E. SCHNEIDER (Cal. Bar No. 216114) 

 schneidere@sec.gov 

JEREMY E. PENDREY (Cal. Bar No. 187075) 

 pendreyj@sec.gov 

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

 atwoode@sec.gov 

ANDREW J. HEFTY (Cal. Bar No. 220450) 

 heftya@sec.gov 

SECURITIES AND EXCHANGE COMMISSION 

44 Montgomery Street, Suite 2800 

San Francisco, CA 94104 

T: (415) 705-2500 

F: (415) 705-2501 

ERIC M. BROOKS (Cal. Bar No. 209153) 

 brookse@sec.gov 

SECURITIES AND EXCHANGE COMMISSION 

33 Arch Street, 23rd Floor 

Boston, MA 02110-1424 

(617) 573-8900 

SECURITIES AND EXCHANGE COMMISSION, 

 Plaintiff, 

 vs. 

MICHAEL B. ROTHENBERG, et al., 

 Defendants. 

Case No. 3:18-cv-05080-JST 

STIPULATION AND 

[PROPOSED] ORDER 

PERMITTING LIMITED 

EXPEDITED DISCOVERY

Pursuant to Rule 26(d)(1) of the Federal Rules of Civil Procedure and Civil Local Rules 6-2 and 

7-12, Plaintiff Securities and Exchange Commission (“Commission”) and Defendants Michael B. 

Rothenberg (“Rothenberg”) and Rothenberg Ventures LLC (collectively, “Defendants”) submit this 

Stipulation and Proposed Order Permitting Limited Expedited Discovery. The Commission and 

Defendants (collectively, the “Parties”) submit this Stipulation and Proposed Order because they agree 

UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA 

SAN FRANCISCO DIVISION

Case 3:18-cv-05080-JST Document 15 Filed 09/05/18 Page 1 of 5
STIPULATION RE EXPEDITED DISCOVERY 2 SEC V. ROTHENBERG, ET AL. 

CASE NO. 3:18-CV-05080-JST 

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that limited expedited discovery pursuant to Fed. R. Civ. P. 26(d)(1) is warranted. 

STIPULATION 

WHEREAS the Commission filed its Complaint on August 20, 2018 (ECF No. 1), along with 

the Consent of Michael B. Rothenberg (ECF No. 5) and Proposed Judgment (ECF No. 5-1), and Consent 

of Rothenberg Ventures LLC (ECF No. 6) and Proposed Judgment (ECF No. 6-1). 

WHEREAS in the Consents signed by Defendants and filed by the Commission, Defendants 

waived service of a summons and the Complaint in this action, entered a general appearance, and 

admitted the Court’s jurisdiction over Defendants and over the subject matter of this action. ECF No. 5 

at 2; ECF No. 6 at 2. Defendants, without admitting or denying the allegations of the Complaint except 

as set forth in the Consents and in the Proposed Judgments, consent to the entry of the Proposed 

Judgments thereby bifurcating this action pursuant to the Parties’ settlements subject to the Court’s 

approval. 

WHEREAS pursuant to the Parties’ bifurcated settlements, upon entry of the Proposed 

Judgments and subsequent motion by the Commission, the Court shall determine the amounts of the 

disgorgement of ill-gotten gains, prejudgment interest thereon, and civil penalties pursuant to Section 

209(e)(2)(C) of the Advisers Act, 15 U.S.C. § 80b-9(e)(2)(C). ECF No. 5-1 at 3; ECF No. 6-1 at 3. 

Pursuant to the Proposed Judgments, the Parties may take discovery, including discovery from 

appropriate non-parties, in connection with the Commission’s motion for disgorgement and civil 

penalties. ECF Nos. 5-1 at 3, 6-1 at 3. 

WHEREAS this Court has issued its Order Setting Initial Case Management Conference and 

ADR Deadlines (ECF No. 7) (“CMC Order”) setting the Initial Case Management Conference for 2:00 

p.m., November 21, 2018, at Courtroom 9, 19th Floor, 450 Golden Gate Avenue, San Francisco, CA 

94102, and setting related deadlines. 

WHEREAS the Parties agree that limited expedited discovery pursuant to Fed. R. Civ. P. 

26(d)(1) is warranted in order to efficiently and timely obtain information from third parties regarding 

the assets of Defendants, and the venture capital funds Defendants manage and are at issue in this 

proceeding. Delaying such discovery until completion of the Fed. R. Civ. P. 26(f) conference and 

related events pursuant to Civil L.R. 16 and the CMC Order may result in the Parties losing the value of 

Case 3:18-cv-05080-JST Document 15 Filed 09/05/18 Page 2 of 5
STIPULATION RE EXPEDITED DISCOVERY 3 SEC V. ROTHENBERG, ET AL. 

CASE NO. 3:18-CV-05080-JST 

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their bifurcated settlements. 

WHEREAS the Declaration of E. Barrett Atwood in Support of this Stipulation and [Proposed] 

Order Permitting Limited Expedited Discovery (attached as Exhibit 1) is submitted pursuant to Civil 

Local Rule 6-2. 

ACCORDINGLY, IT IS THEREFORE STIPULATED AND AGREED, by and between the 

Parties that, upon entry of this [Proposed] Order, any Party may issue subpoenas pursuant to Rule 45 of 

the Federal Rules of Civil Procedure upon any financial institution where Defendants may have an 

account or conduct financial transactions. Such subpoenas must be limited in scope to commanding the 

production of documents or permitting inspection of records and may not be issued pursuant to this 

Stipulation and [Proposed] Order to command a person to appear for a trial, hearing or deposition. The 

Parties further stipulate and agree that nothing in this Stipulation and [Proposed] Order shall limit their 

right to seek additional discovery, including, but not limited to, issuing subpoenas to command a person 

to appear for a trial, hearing or deposition, pursuant to the timeframes set forth by the Federal Rules of 

Civil Procedure, Local Rule, or Order of this Court. 

DATED: August 27, 2018 Respectfully submitted, 

 /s/ E. Barrett Atwood E. Barrett Atwood 

SECURITIES AND EXCHANGE 

COMMISSION 

 44 Montgomery Street, Suite 2800 

 San Francisco, CA 94104 

 Attorney for Plaintiff 

 

/s/ Marc J. Fagel 

Marc J. Fagel 

GIBSON, DUNN & CRUTCHER LLP 

555 Mission Street 

San Francisco, CA 94105 

Attorney for Defendants 

 

Case 3:18-cv-05080-JST Document 15 Filed 09/05/18 Page 3 of 5
STIPULATION RE EXPEDITED DISCOVERY 4 SEC V. ROTHENBERG, ET AL. 

CASE NO. 3:18-CV-05080-JST 

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[PROPOSED] ORDER 

PURSUANT TO STIPULATION, IT IS SO ORDERED. 

DATED: 

 Hon. Jon S. Tigar 

 UNITED STATES DISTRICT JUDGE 

 

September 5, 2018

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORN

I

A

IT IS SO ORDERED

 Judge Jon S. Tigar 

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STIPULATION RE EXPEDITED DISCOVERY 5 SEC V. ROTHENBERG, ET AL. 

CASE NO. 3:18-CV-05080-JST 

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ATTESTATION 

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

file the Stipulation and [Proposed] Order Permitting Limited Expedited Discovery. I hereby attest 

that each of the above Parties or their representatives concurs in this filing to the extent indicated. 

Dated: August 27, 2018 /s/ E. Barrett Atwood 

E. Barrett Atwood 

Attorney for Plaintiff 

SECURITIES AND EXCHANGE COMMISSION 

Case 3:18-cv-05080-JST Document 15 Filed 09/05/18 Page 5 of 5