XTI Aerospace, Inc. v. Chardan Capital Markets LLC
- Gregory Woods
- 1:24-cv-06590
- U.S. District Court · Southern District of New York
- 1
In XTI Aerospace v. Chardan, Judge Woods ordered summary-judgment materials for a petition to stay arbitration and adjourned the initial conference.
XTI Aerospace, Inc. and Chardan Capital Markets LLC, whose arbitration dispute remains pending while the court sets deadlines for briefing and supporting materials.
What happened
XTI Aerospace, Inc. filed a petition asking the court to pause arbitration with Chardan Capital Markets LLC on August 30, 2024. The opinion does not decide whether arbitration should be stayed.
The court ordered XTI to file and serve a Local Civil Rule 56.1 statement and supporting materials by November 3, 2024. Chardan’s opposition is due four weeks after those filings are served, and XTI’s reply, if any, is due two weeks after Chardan’s opposition is served.
Judge Gregory H. Woods also adjourned the initial pretrial conference without setting a new date. The order is a scheduling order and does not resolve the parties’ dispute about arbitration.
The detailed version
- XTI Aerospace, Inc. v. Chardan Capital Markets LLC · No. 1:24-cv-06590
- Gregory Woods
- Oct. 3, 2024
Background
On August 30, 2024, XTI Aerospace, Inc. filed a petition to stay arbitration against Chardan Capital Markets LLC. The opinion does not describe the underlying arbitration dispute or decide whether the arbitration should be stayed.
Court’s instructions
The court stated that the summary-judgment standard is appropriate when a district court must determine whether a dispute is arbitrable, whether the requested relief is an order requiring arbitration or an order preventing arbitration. Summary judgment is a procedure for deciding a matter when the relevant facts and law can be resolved without a trial.
The court ordered the petitioner to file and serve a statement under Local Civil Rule 56.1 and any additional materials supporting the petition by November 3, 2024. The additional materials may include affidavits or declarations confirming that the petition’s exhibits are true and correct copies of the documents they claim to be.
Chardan’s opposition is due four weeks after service of the petitioner’s filings. The petitioner’s reply, if any, is due two weeks after service of Chardan’s opposition.
Other ruling
The initial pretrial conference scheduled for October 16, 2024 was adjourned without setting a new date. Judge Gregory H. Woods did not rule on the petition to stay arbitration in this order.
Read the full 1-page opinion on CourtListener, the free public archive maintained by the Free Law Project.