Securities and Exchange Commission v. Thurlow

Background

The court held a hearing in the Securities and Exchange Commission’s case against Simon Piers Thurlow and other defendants on December 10, 2024. The order addressed attorney-disqualification concerns and several case-management matters. It did not resolve the underlying enforcement claims.

Attorney-disqualification submission

The court ordered Defendant and attorney R. Fidler to file, by December 17, 2024, a letter of no more than five single-spaced pages explaining why his representation of co-defendants did not require disqualification. The letter also had to cite the bankruptcy matter that R. Fidler referenced during the hearing. The Securities and Exchange Commission was allowed to file a response of no more than five single-spaced pages by December 23, 2024.

Required meet-and-confer discussions

The court also ordered the parties to meet and discuss three subjects: a proposed briefing schedule for R. Fidler’s anticipated motion concerning Loper Bright Enterprises v. Raimondo; whether the defendants consented to striking certain affirmative defenses challenged by the Securities and Exchange Commission or whether additional motions were needed; and whether the court’s earlier opinion and order needed amendment to accurately describe the charges against Defendant Jordan or Defendant WBC. The parties had to file a joint letter addressing these subjects by January 3, 2025.

Disposition

Judge Vernon S. Broderick entered this case-management order. The order required additional submissions and discussions but did not state whether R. Fidler had to be disqualified, whether any affirmative defenses would be stricken, or whether the anticipated motion concerning Loper Bright would succeed.