Court Opinion

ID: 2970412
Source: CourtListenerOpinion
Date Created: 2015-09-22 16:12:14.423348+00
Date Added: 2024-06-11T15:01:55.055808
License: Public Domain

5(&200(1'(' )25 )8//7(;7 38%/,&$7,21
     3ROLFDVWURY1RUWKZHVW$LUOLQHV              1R                    3XUVXDQW WR 6L[WK &LUFXLW 5XOH 

                                                                           (/(&7521,& &,7$7,21  )(' $SS 3 WK &LU

  3ROLFDVWURGLGQRWSUHVHQWHYLGHQFHVXIILFLHQWWRFUHDWHD                           )LOH 1DPH DS

JHQXLQHLVVXHRIPDWHULDOIDFWUHJDUGLQJWKHLQDGHTXDF\RIKHU
EXGJHWRU1:$jVDOOHJHGIDLOXUHWRUHORFDWHKHUFRQGLWLRQV
ZKLFK PLJKW VXSSRUW D FODLP WKDW WKH UHDVVLJQPHQW ZDV         81,7('67$7(6&28572)$33($/6
REMHFWLYHO\LQWROHUDEOH)LUVW1:$DOZD\VUHLPEXUVHGKHU                           )257+(6,;7+&,5&8,7
IRUKHUFRVWVHYHQZKHQVKHZHQWRYHUEXGJHWDQGVKHZDV                             BBBBBBBBBBBBBBBBB
QHYHU GLVFLSOLQHG IRU IDLOLQJ WR VWD\ ZLWKLQ KHU EXGJHW
6HFRQGWKHUHFRUGFOHDUO\LQGLFDWHVWKDW3ROLFDVWURPDGHLW
NQRZQWRKHUVXSHUYLVRUVWKDWVKHGLGQRWZLVKWRUHORFDWH
7KHUHFDQQRWEHDGHQLDORIDUHORFDWLRQSDFNDJHLQDVLWXDWLRQ        %$5%$5$ 32/,&$6752              ;
ZKHUHVKHGLGQRWGHVLUHWRUHORFDWHDQGKHUVXSHUYLVRUVZHUH                  3ODLQWLII$SSHOODQW      
DZDUHRIWKLVIDFW                                                                                      
                                                                                                           1R
  :HWKHUHIRUHFRQFOXGHWKDWWKHUHDVVLJQPHQWRI3ROLFDVWUR                      Y                      
GLG QRW FRQVWLWXWH D FRQVWUXFWLYH GLVFKDUJH RU DQ DGYHUVH                                         !
                                                                                                         
HPSOR\PHQW DFWLRQ  $ UHDVRQDEOH SHUVRQ ZRXOG QRW ILQG         1257+:(67 $,5/,1(6               
WKHVH FRQGLWLRQV REMHFWLYHO\ LQWROHUDEOH DQG ZH DUH QRW        ,1&25325$7('                     
SHUVXDGHGE\3ROLFDVWURjVVXEMHFWLYHGLVSOHDVXUHRYHU1:$jV                     'HIHQGDQW$SSHOOHH 
EXVLQHVV UHVWUXFWXULQJ GHFLVLRQ  3ROLFDVWUR FDQQRW                                                 
GHPRQVWUDWH FRQVWUXFWLYH GLVFKDUJH E\ VKRZLQJ WKDW D                                              1
GLIIHUHQW UHVWUXFWXULQJ SODQ ZRXOG KDYH EHQHILWWHG RU EHHQ
PRUHDFFHSWDEOHWRKHU                                                     $SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW
                                                                           IRUWKH6RXWKHUQ'LVWULFWRI2KLRDW&LQFLQQDWL
  %HFDXVHZHILQGWKDW3ROLFDVWURGLGQRWSUHVHQWHYLGHQFH                1Rn+HUPDQs:HEHU'LVWULFWsXGJH
IURP ZKLFK D MXU\ FRXOG ILQG WKDW VKH VXIIHUHG DQ DGYHUVH
HPSOR\PHQWDFWLRQZHFRQFOXGHWKDWVKHIDLOHGWRHVWDEOLVK                           $UJXHGsDQXDU\
DSULPDIDFLHFDVHRIVH[RUDJHGLVFULPLQDWLRQ3ROLFDVWURjV
IDLOXUH WR HVWDEOLVK D SULPD IDFLH FDVH SUHFOXGHV XV IURP                 'HFLGHGDQG)LOHGsXO\
UHDFKLQJ WKH TXHVWLRQV RI ZKHWKHU 1:$ KDG D OHJLWLPDWH
QRQGLVFULPLQDWRU\UHDVRQIRUWKHUHDVVLJQPHQWDQGZKHWKHU             %HIRUH68+5+(,15,&+6,/(5DQG%$7&+(/'(5
WKDWUHDVRQZDVDFWXDOO\DSUHWH[W$QGEHFDXVHKHUVWDWHODZ                          &LUFXLWsXGJHV
FODLPV DUH VXEMHFW WR WKH VDPH DQDO\VLV ZH KDYH XWLOL]HG
DERYH0LWFKHOO)GDWWKRVHFODLPVPXVWIDLODV                              BBBBBBBBBBBBBBBBB
ZHOO
                                                                                              &2816(/
                        &21&/86,21
                                                                      $5*8(''RQDOG%+RUGHV6&+:$57=0$1(6	
  )RUWKHIRUHJRLQJUHDVRQVZH$)),50WKHMXGJPHQWRIWKH            58%<&LQFLQQDWL2KLRIRU$SSHOODQW'DYLG*+ROFRPEH
GLVWULFWFRXUW                                                       %$.(5 	 +267(7/(5 &LQFLQQDWL 2KLR IRU $SSHOOHH
                                                                      21%5,()'RQDOG%+RUGHV6&+:$57=0$1(6	
                                                                      58%<&LQFLQQDWL2KLRIRU$SSHOODQW'DYLG*+ROFRPEH

                                                                                                   
     3ROLFDVWURY1RUWKZHVW$LUOLQHV                 1R       1R             3ROLFDVWURY1RUWKZHVW$LUOLQHV         

$P\/*DUUDUG%$.(5	+267(7/(5&LQFLQQDWL2KLR                        $Q DGYHUVH HPSOR\PHQW DFWLRQ LV D mPDWHULDOO\ DGYHUVH
IRU$SSHOOHH                                                            FKDQJHLQWKHWHUPVRUFRQGLWLRQVRIHPSOR\PHQWEHFDXVH
                                                                         RI>WKH@HPSOR\HUjVFRQGXFWl.RFVLVY0XOWL&DUH0JPW
                      BBBBBBBBBBBBBBBBB                                  ,QF)GWK&LUHPSKDVLVRPLWWHG
                                                                         5HDVVLJQPHQWVZLWKRXWFKDQJHVLQVDODU\EHQHILWVWLWOHRU
                          23,1,21                                        ZRUN KRXUV XVXDOO\ GR QRW FRQVWLWXWH DGYHUVH HPSOR\PHQW
                      BBBBBBBBBBBBBBBBB                                  DFWLRQV,GDW<DWHVY$YFR&RUS)G
                                                                         WK&LU:KHQDUHDVVLJQPHQWULVHVWRWKHOHYHO
  $/,&( 0 %$7&+(/'(5 &LUFXLW sXGJH  %DUEDUD                     RIDFRQVWUXFWLYHGLVFKDUJHKRZHYHUWKHUHDVVLJQPHQWLVDQ
3ROLFDVWUR DSSHDOV WKH GLVWULFW FRXUWjV JUDQW RI VXPPDU\          DGYHUVHHPSOR\PHQWDFWLRQ)RUDWUDQVIHURUUHDVVLJQPHQWWR
MXGJPHQW LQ IDYRU RI KHU HPSOR\HU 1RUWKZHVW $LUOLQHV            DPRXQW WR D FRQVWUXFWLYH GLVFKDUJH LWV FRQGLWLRQV PXVW EH
,QFRUSRUDWHGm1:$lRQKHUFODLPVRIVH[GLVFULPLQDWLRQ                REMHFWLYHO\ LQWROHUDEOH WR D UHDVRQDEOH SHUVRQ  .RFVLV 
LQ YLRODWLRQ RI 7LWOH 9,,  86&  H HW VHT DJH     )GDWGLVFXVVLQJ'DUQHOOY&DPSEHOO&RXQW\)LVFDO
GLVFULPLQDWLRQ LQ YLRODWLRQ RI WKH $JH 'LVFULPLQDWLRQ LQ          &RXUW1R:/DW
WK&LU)HE
(PSOR\PHQW $FW m$'($l  86&   HW VHT                  $Q HPSOR\HHjV VXEMHFWLYH LPSUHVVLRQV DV WR WKH
FRQVWUXFWLYHGLVFKDUJHXQGHUERWK7LWOH9,,DQGWKH$'($                GHVLUDELOLW\RIRQHSRVLWLRQRYHUDQRWKHUDUHQRWUHOHYDQW,G
DQGYLRODWLRQVRIVWDWHVH[DQGDJHGLVFULPLQDWLRQODZV:H             FLWLQJ .HOOHKHU Y )ODZQ  )G   WK &LU
FRQFOXGH WKDW WKH SODLQWLII IDLOHG WR HVWDEOLVK D SULPD IDFLH   :HQRWHWKDWLQFUHDVHGGLVWDQFHIURPKRPHWRDQHZ
FDVHRIHLWKHUDJHRUVH[GLVFULPLQDWLRQEHFDXVHVKHGLGQRW             SRVLWLRQ LV D IDFWRU LQ GHWHUPLQLQJ ZKHWKHU D FRQVWUXFWLYH
GHPRQVWUDWHWKDWVKHVXIIHUHGDQDGYHUVHHPSOR\PHQWDFWLRQ              GLVFKDUJHKDVRFFXUUHG,GDFFRUG'DUQHOO:/
$FFRUGLQJO\ZHDIILUPWKHGHFLVLRQRIWKHGLVWULFWFRXUW               DW

                 352&('85$/+,6725<                                         6LQFH  3ROLFDVWURjV WHUULWRU\ KDV LQFOXGHG WKH
                                                                         /RXLVYLOOH/H[LQJWRQ PHWURSROLWDQ DUHDV SULRU WR WKH
  2QsDQXDU\WKHSODLQWLII%DUEDUD3ROLFDVWURILOHG          UHDVVLJQPHQWDWLVVXHKHUHVKHVSHQWWKLUW\WRIRUW\SHUFHQWRI
D FRPSODLQW DJDLQVW 1:$ DOOHJLQJ VL[ FODLPV VH[                  KHUWLPHLQWKHVHPDUNHWVDQGRFFDVLRQDOO\VWD\HGRYHUQLJKW
GLVFULPLQDWLRQXQGHU7LWOH9,,DJHGLVFULPLQDWLRQXQGHUWKH             LQ .HQWXFN\ LQ FRQMXQFWLRQ ZLWK FOLHQW PHHWLQJV  7KH
$'($FRQVWUXFWLYHGLVFKDUJHXQGHUERWK7LWOH9,,DQGWKH                UHDVVLJQPHQWGLGQRWLQYROYHDUHGXFWLRQLQVDODU\DGHFUHDVH
$'($DQGVWDWHODZFODLPVRIDJHDQGVH[GLVFULPLQDWLRQ                LQEHQHILWVDGLPLQXWLRQLQUHVSRQVLELOLWLHVDPRGLILFDWLRQRI
)ROORZLQJGLVFRYHU\1:$PRYHGIRUVXPPDU\MXGJPHQW                     KHUWLWOHRUDQLQFUHDVHLQWKHVL]HRIKHUWHUULWRU\DQGLWZDV
  7KHGLVWULFWFRXUWJUDQWHG1:$jVPRWLRQFRQFOXGLQJWKDW               H[SHFWHGWRDGYDQFHKHUFDUHHU7KHRQO\DVSHFWRIKHUMRE
3ROLFDVWURIDLOHGWRHVWDEOLVKDSULPDIDFLHFDVHRIVH[RUDJH          WKDW FKDQJHG ZDV WKDW VKH ZDV UHTXLUHG WR VSHQG KHU WLPH
GLVFULPLQDWLRQEHFDXVHVKHGLGQRWGHPRQVWUDWHWKDWVKHKDG              VROHO\ LQ .HQWXFN\ UDWKHU WKDQ VSOLWWLQJ KHU WLPH ZLWK WKH
VXIIHUHGDQDGYHUVHHPSOR\PHQWDFWLRQ7KHGLVWULFWFRXUW               &LQFLQQDWLPDUNHW7KHGLVWDQFH3ROLFDVWURKDGWRWUDYHOGLG
ZHQWRQWRFRQFOXGHWKDW3ROLFDVWURKDGDOVRIDLOHGWRSUHVHQW           QRWLQFUHDVHDOWKRXJKWKHQXPEHURIWLPHVSHUPRQWKWKDWVKH
HYLGHQFH RI SUHWH[W RU GLUHFW HYLGHQFH RI GLVFULPLQDWLRQ         KDGWRWUDYHOWKDWGLVWDQFHGLG0RUHRYHUVKHKDGWKHRSWLRQ
%HFDXVHZHDJUHHWKDW3ROLFDVWURGLGQRWVXIIHUDQDGYHUVH               RI VSHQGLQJ WKH QLJKW LI VKH IRXQG WKH GDLO\ GULYH
HPSOR\PHQWDFWLRQDQGWKXVGLGQRWHVWDEOLVKDSULPDIDFLH               LQFRQYHQLHQW
FDVHRIGLVFULPLQDWLRQZHZLOODIILUPZLWKRXWUHDFKLQJWKH
RWKHULVVXHV
       3ROLFDVWURY1RUWKZHVW$LUOLQHV                 1R        1R             3ROLFDVWURY1RUWKZHVW$LUOLQHV         

                            $1$/<6,6                                                         67$7(0(172))$&76
  $V D WKUHVKROG PDWWHU ZH UHFRJQL]H WKDW FODLPV RI                   3ROLFDVWUR EHJDQ KHU HPSOR\PHQW ZLWK 1:$ DV D
GLVFULPLQDWLRQ EURXJKW SXUVXDQW WR 7LWOH 9,,  86&              5HVHUYDWLRQ$JHQWLQ,QVKHZDVSURPRWHGWRWKH
HHWVHTDQGWKH$'($86&HWVHTDUH                 SRVLWLRQ RI 6DOHV 5HSUHVHQWDWLYH ZKHUH VKH VROG 1:$jV
DQDO\]HG XQGHU WKH VDPH IUDPHZRUN  0LWFKHOO Y 7ROHGR              VHUYLFHVWRWUDYHODJHQFLHVDQGFRUSRUDWLRQVZKRVHHPSOR\HHV
+RVS  )G   WK &LU   :H IROORZ WKH         WUDYHOHGRQEXVLQHVV6KHUHPDLQHGHPSOR\HGLQWKLVFDSDFLW\
0F'RQQHOO 'RXJODV &RUS Y *UHHQ  86                 XQWLOKHUUHVLJQDWLRQLQ
EXUGHQVKLIWLQJ DQDO\VLV ZKLFK UHTXLUHV D SODLQWLII ILUVW WR
HVWDEOLVKDSULPDIDFLHFDVHRIGLVFULPLQDWLRQ,GDW7R              )URP  XQWLO  3ROLFDVWURjV VDOHV WHUULWRU\
HVWDEOLVKDSULPDIDFLHFDVHDSODLQWLIIPXVWVKRZmWKDW               FRPSULVHG WKH HQWLUH &LQFLQQDWL PHWURSROLWDQ DUHD EXW LQ
>V@KHLVDPHPEHURIDSURWHFWHGJURXSlmWKDW>V@KHZDV                1:$DGGHGWRKHUWHUULWRU\WKH/RXLVYLOOH/H[LQJWRQ
VXEMHFWWRDQDGYHUVHHPSOR\PHQWGHFLVLRQlmWKH>V@KH                  PHWURSROLWDQDUHDVZKLFKDUHRQHKXQGUHGPLOHVDQGHLJKW\
ZDV TXDOLILHG IRU WKH SRVLWLRQl DQG  mWKDW >V@KH ZDV           PLOHV UHVSHFWLYHO\ IURP 3ROLFDVWURjV KRPH LQ &LQFLQQDWL
UHSODFHGE\DSHUVRQRXWVLGHRIWKHSURWHFWHGFODVVl.OLQHY             3ROLFDVWUR ZDV SK\VLFDOO\ SUHVHQW LQ WKH QHZ WHUULWRU\ DQ
7HQQHVVHH9DOOH\$XWK)GWK&LU                   DYHUDJHRIIRXUWRVL[GD\VSHUPRQWKRFFDVLRQDOO\VWD\LQJ
FLWLQJ 0LWFKHOO  )G DW   ,Q GLVSDUDWH WUHDWPHQW        RYHUQLJKW LQ .HQWXFN\ DQG WKLUW\ WR IRUW\ SHUFHQW RI KHU
FDVHV WKH IRXUWK HOHPHQW PD\ EH UHSODFHG ZLWK WKH                  VHOOLQJWLPHZDVGHYRWHGWRWKH/RXLVYLOOH/H[LQJWRQPDUNHWV
UHTXLUHPHQWWKDWWKHSODLQWLIIVKRZVKHZDVWUHDWHGGLIIHUHQWO\
IURP VLPLODUO\VLWXDWHG LQGLYLGXDOV  0LWFKHOO  )G DW             ,Q  1:$ ZKLFK ZDV VWURQJ LQ GRPHVWLF DQG
                                                                     WUDQVSDFLILF WUDYHO IRUPHG D VWUDWHJLF DOOLDQFH ZLWK ./0
                                                                            $LUOLQHV,QFDQDLUOLQHVWURQJLQWUDQVDWODQWLFWUDYHOWRXQLWH
  :HDJUHHZLWKWKHGLVWULFWFRXUWjVILQGLQJWKDW3ROLFDVWUR                WKHVDOHVDQGPDUNHWLQJFRQWLQJHQWVRIERWKDLUOLQHV7KHWZR
HVWDEOLVKHG WKH ILUVW DQG WKLUG SURQJV RI KHU SULPD IDFLH          DLUOLQHVUHVWUXFWXUHGDQGUHDOORFDWHGWKHLUVDOHVIRUFHVLQWKH
FDVHnVKHLVIHPDOHDQGVKHZDVRYHUWKHDJHRIIRUW\ DV                  'HWURLW UHJLRQ ZKLFK LQFOXGHV ,QGLDQD &ROXPEXV DQG
UHTXLUHGE\86&DDQGWKHUHLVQRTXHVWLRQWKDW               &LQFLQQDWL2KLRDQG/RXLVYLOOHDQG/H[LQJWRQ.HQWXFN\
VKHZDVTXDOLILHGIRUWKHSRVLWLRQ:HDOVRDJUHHKRZHYHU                9DULRXVFLWLHVLQWKHUHJLRQZHUHFODVVLILHGDVHLWKHUmIRFXVl
ZLWK WKH GLVWULFW FRXUWjV ILQGLQJ WKDW 3ROLFDVWUR IDLOHG WR         RUmRSSRUWXQLW\lFLWLHV)RFXVFLWLHVVXFKDV&ROXPEXVDQG
SUHVHQWHYLGHQFHVXIILFLHQWWRHVWDEOLVKWKHWKLUGSURQJWKDWLV          ,QGLDQDSROLVZHUHFLWLHVSUHVHQWLQJVLJQLILFDQWRSSRUWXQLWLHV
VKH GLG QRW GHPRQVWUDWH     WKDW VKH VXIIHUHG DQ DGYHUVH            WRLQFUHDVHWKHWZRDLUOLQHVjPDUNHWVKDUHEHFDXVHQRRWKHU
HPSOR\PHQWDFWLRQ                                                         DLUOLQH GRPLQDWHG  2SSRUWXQLW\ FLWLHV VXFK DV /RXLVYLOOH
                                                                            ZHUHFLWLHVLQZKLFKWKHWZRDLUOLQHVKDGXQGHUSHUIRUPHGLQ
                                                                            WKHSDVWEXWSUHVHQWHGWKHSRWHQWLDOIRULQFUHDVLQJUHYHQXHV
                                                                            &LQFLQQDWLZDVQRWFODVVLILHGDVDQRSSRUWXQLW\FLW\EHFDXVH
    
                                                                            RI 'HOWD $LUOLQHVj GRPLQDQFH  1:$jV VWUDWHJ\ ZDV WR
     3ROLFDVWUR FODLPV WKDW VKH KDV GLUHFW HYLGHQFH VXIILFLHQW WR VXSSRUW   LQFUHDVHWKHLQWHUQDWLRQDOIOLJKWVLQ&LQFLQQDWLDQGGRPHVWLF
KHU FODLPV RI ERWK DJH DQG VH[ GLVFULPLQDWLRQ   :H QHHG QRW UHDFK WKH      IOLJKWVLQWKH/RXLVYLOOH/H[LQJWRQDUHD
TXHVWLRQDEOH DIILGDYLW VKH SURIIHUV LQ VXSSRUW RI WKLV FODLP EHFDXVH
ZKHWKHU VKH SURFHHGV RQ WKH EDVLV RI GLUHFW HYLGHQFH RU FLUFXPVWDQWLDO
                                                                               $VSDUWRIWKHVHVWUXFWXUDOFKDQJHVDQGHIIHFWLYHLQ2FWREHU
                                                                            RI1:$DQG./0RIILFLDOVUHFRQILJXUHG3ROLFDVWURjV
HYLGHQFH VKH PXVW GHPRQVWUDWH DQ DGYHUVH HPSOR\PHQW DFWLRQ 1JX\HQ
Y &LW\ RI &OHYHODQG  )G   WK &LU  ZKLFK DV ZH
H[SODLQ VKH KDV IDLOHG WR GR                                              WHUULWRU\VRWKDWVKHZRXOGVHUYLFHFXVWRPHUVH[FOXVLYHO\LQ
     3ROLFDVWURY1RUWKZHVW$LUOLQHV              1R       1R            3ROLFDVWURY1RUWKZHVW$LUOLQHV        

WKH/RXLVYLOOH/H[LQJWRQPHWURSROLWDQDUHDV7KHFKDQJHWRRN         IDFWVWKDWVKHZDVUHLPEXUVHGIRUWKHH[SHQVHVVKHVXEPLWWHG
LQWRDFFRXQWWKHIDFWVWKDWVKHZDVH[SHULHQFHGLQGRPHVWLF           HYHQWKRVHRYHUEXGJHWDQGVKHZDVQRWGLVFLSOLQHGIRUJRLQJ
DQG WUDQVSDFLILF VDOHV DQG ZRXOG QRW QHHG WUDLQLQJ VKH       RYHUEXGJHW
DOUHDG\ VSHQW WKLUW\ WR IRUW\ SHUFHQW RI KHU WLPH LQ WKH
/RXLVYLOOH/H[LQJWRQUHJLRQVKHKDGDVWURQJFRQWDFWEDVHLQ           3ROLFDVWURVHUYLFHGWKH/RXLVYLOOHDQG/H[LQJWRQPDUNHWV
WKH UHJLRQ KHU ODUJHVW DFFRXQW ZDV LQ /RXLVYLOOH VKH ZDV   H[FOXVLYHO\XQWLOVKHVXEPLWWHGKHUUHVLJQDWLRQRQsXQH
EHWWHUVXLWHGIRUWKHFKDOOHQJHRIDQRSSRUWXQLW\FLW\DQGWKH       DWWKHDJHRIIRUW\ILYHFLWLQJKHUWHUULWRU\PRGLILFDWLRQ
QHZ WHUULWRU\ KDG WKH SRWHQWLDO IRU KHOSLQJ KHU FDUHHU       DQG WUDYHOH[SHQVH EXGJHW FRQFHUQV DV UHDVRQV IRU KHU
3ROLFDVWURZDVH[SHFWHGWRVSHQGDWOHDVWIRXUGD\VSHUZHHN          UHVLJQDWLRQ6KHPDLQWDLQHGWKDWWKHVWUHVVRQKHUVHOIDQGKHU
DQGWKUHHQLJKWVLIVKHFKRVHWRVWD\RYHUQLJKWLQ/RXLVYLOOH      IDPLO\ZDVWRRPXFKIRUKHUWRKDQGOH
DQG/H[LQJWRQEXWVKHZDVQRWUHTXLUHGWRnDQGLQIDFWGLG
QRWnUHORFDWH3ROLFDVWURjVWHUULWRU\GLGQRWLQFUHDVHDQGKHU                       67$1'$5'2)5(9,(:
VDODU\EHQHILWVUHVSRQVLELOLWLHVDQGMREWLWOHGLGQRWFKDQJH
                                                                         :HUHYLHZDGLVWULFWFRXUWjVJUDQWRIVXPPDU\MXGJPHQWGH
  3ROLFDVWURZDVXQKDSS\ZLWKWKHUHDVVLJQPHQWEHFDXVHVKH            QRYRXVLQJWKHVDPHVWDQGDUGXQGHU5XOHFXVHGE\WKH
ZRXOGKDYHDORQJFRPPXWHVKHZRXOGEHUHTXLUHGWREHLQ             GLVWULFWFRXUW:LOOLDPVY0HKUD)GWK&LU
/RXLVYLOOHDQG/H[LQJWRQIRXUGD\VSHUZHHNDQGLWZRXOG              HQ EDQF  6XPPDU\ MXGJPHQW LV SURSHU LI mWKH
GHSULYH KHU RI KHU DELOLW\ WR PDLQWDLQ KHU ORQJVWDQGLQJ       SOHDGLQJV GHSRVLWLRQV DQVZHUV WR LQWHUURJDWRULHV DQG
UHODWLRQVKLSVZLWKKHU&LQFLQQDWLFOLHQWHOH%XWFRQWUDU\WR         DGPLVVLRQVRQILOHWRJHWKHUZLWKWKHDIILGDYLWVLIDQ\VKRZ
KHUODWHUDVVHUWLRQWKDWVKHZDVGHQLHGDUHORFDWLRQSDFNDJH         WKDWWKHUHLVQRJHQXLQHLVVXHDVWRDQ\PDWHULDOIDFWDQGWKDW
ZKHQ WKH SRVVLELOLW\ RI UHDVVLJQPHQW ZDV ILUVW GLVFXVVHG      WKHPRYLQJSDUW\LVHQWLWOHGWRDMXGJPHQWDVDPDWWHURIODZl
3ROLFDVWUR LQ IDFW LQIRUPHG 1:$ RIILFLDOV WKDW VKH ZDV        )(' 5 &,9 3 F:HYLHZWKHHYLGHQFHDOOIDFWVDQG
XQZLOOLQJWRUHORFDWH                                                DQ\LQIHUHQFHVWKDWPD\EHGUDZQIURPWKHIDFWVLQWKHOLJKW
                                                                      PRVW IDYRUDEOH WR WKH QRQPRYLQJ SDUW\  0DWVXVKLWD (OHF
   3ROLFDVWURjV &LQFLQQDWL UHJLRQ ZDV UHDVVLJQHG WR ./0         ,QGXV&RY=HQLWK5DGLR&RUS86
HPSOR\HH 0LUR 0DFKROGD ZKR SULRU WR WKH UHDVVLJQPHQW        7R ZLWKVWDQG VXPPDU\ MXGJPHQW WKH QRQPRYDQW PXVW
KDG VROG ./0 VHUYLFHV H[FOXVLYHO\ LQ WKH &ROXPEXV             SUHVHQW VXIILFLHQW HYLGHQFH WR FUHDWH D JHQXLQH LVVXH RI
&LQFLQQDWL'D\WRQDQG/RXLVYLOOHDUHDV1:$DVVLJQHGWKLV          PDWHULDOIDFW.OHSSHUY)LUVW$P%DQN)G
WHUULWRU\WR0DFKROGDEHFDXVHKHKDGH[WHQVLYHH[SHULHQFHLQ          WK&LU$PHUHVFLQWLOODRIHYLGHQFHLVLQVXIILFLHQW
WUDQVDWODQWLF VDOHV EXW QR H[SHULHQFH LQ GRPHVWLF RU           mWKHUHPXVWEHHYLGHQFHRQZKLFKWKHMXU\FRXOGUHDVRQDEO\
WUDQVSDFLILFVDOHVIRUZKLFKKHZRXOGQHHGWREHWUDLQHGDQG        ILQGIRUWKH>QRQPRYDQW@l$QGHUVRQY/LEHUW\/REE\,QF
KH KDG VSHQW OHVV WKDQ ILYH SHUFHQW RI KLV WLPH LQ WKH     86(QWU\RIVXPPDU\MXGJPHQWLV
/RXLVYLOOH/H[LQJWRQDUHDDQGGLGQRWKDYHDVWURQJFRQWDFW           DSSURSULDWH mDJDLQVW D SDUW\ ZKR IDLOV WR PDNH D VKRZLQJ
EDVHWKHUH                                                           VXIILFLHQWWRHVWDEOLVKWKHH[LVWHQFHRIDQHOHPHQWHVVHQWLDOWR
                                                                      WKDWSDUW\jVFDVHDQGRQZKLFKWKDWSDUW\ZLOOEHDUWKHEXUGHQ
  ,Q 2FWREHU  3ROLFDVWUR EHJDQ VHUYLFLQJ WKH               RISURRIDWWULDOl&HORWH[&RUSY&DWUHWW86
/RXLVYLOOH/H[LQJWRQPHWURSROLWDQDUHDVH[FOXVLYHO\IRXUGD\V         
SHUZHHNDQGVKHTXLFNO\JHQHUDWHGDQXPEHURIDFFRXQWVLQ
WKH/RXLVYLOOH/H[LQJWRQPDUNHWV6KHDOPRVWLPPHGLDWHO\
H[SUHVVHGFRQFHUQWKDWKHUEXGJHWZDVLQDGHTXDWHGHVSLWHWKH