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S.D.N.Y.Procedural orderFiled Mar. 22, 2021

Raptor Trading Systems, Inc. v. Beth

Judge
Ronnie Abrams
Docket
1:16-cv-03430
Court
U.S. District Court · Southern District of New York
Pages
2
Civil ProcedureContract
In one sentence

In Raptor Trading Systems, Inc. v. Bethi, Judge Abrams closed the case after a reported settlement in principle, allowing restoration within 45 days.

Who this affects

The parties to the captioned actions, including Raptor Trading Systems, Inc., David Bethi, Michael Wallach, and Theodoros Lardos, along with the other listed parties.

What happened

In Raptor Trading Systems, Inc. v. Bethi, the parties reported that they had reached a settlement in principle. The opinion also lists a related caption involving Michael Wallach and Theodoros Lardos.

The court discontinued the action without costs to any party. It allowed the parties to ask to restore the action to the court’s docket within 45 days.

Judge Ronnie Abrams directed the Clerk of Court to close the case. She also said that any request for the court to retain authority to enforce a settlement had to be placed on the public record and approved by the court within the same 45-day period.

The detailed version

For law students, journalists, and other readers who want the full reasoning

Case
Raptor Trading Systems, Inc. v. Beth · No. 1:16-cv-03430
Judge
Ronnie Abrams
Date
Mar. 22, 2021

Background

The parties submitted a status letter stating that they had reached a settlement in principle. The opinion lists the Raptor Trading Systems, Inc. matter under docket number 16-CV-3430 and also lists a matter involving Michael Wallach and Theodoros Lardos under docket number 16-CV-5392.

Order

The court ordered that the above-captioned action be discontinued without costs to any party and without prejudice to restoring the action to the court’s docket if an application was made within 45 days. Any application to reopen filed after that period could be denied solely because it was late.

The court further ordered that, if the parties wanted the court to retain authority to enforce a settlement agreement, the agreement’s terms had to be placed on the public record and approved by the court within the same 45-day period. The Clerk of Court was directed to close the case. The opinion does not resolve the underlying claims.

The authoritative version

Read the full 2-page opinion on CourtListener, the free public archive maintained by the Free Law Project.

Open opinion PDF →
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