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Securities and Exchange Commission v. Neill

United States District Court, D. Massachusetts

April 1, 2015

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
JOHN PATRICK O'NEILL and ROBERT BRAY, Defendants

For Securities and Exchange Commission, Plaintiff: David H. London, Securities and Exchange Commission - MA, Boston, MA.

For John Patrick O'Neill, Defendant: David J. Apfel, Nicholas A. Reider, Goodwin Procter, LLP, Boston, MA.

For Robert Bray, Defendant: Joseph W. Monahan, III, LEAD ATTORNEY, Monahan & Padellaro, Medford, MA.

For USA, Intervenor: Eric P. Christofferson, U.S. Attorney's Office - MA, J. Joseph Moakley U.S. Courthouse, Boston, MA.

Page 220

MEMORANDUM AND ORDER

ALLISON D. BURROUGHS, DISTRICT JUDGE.

I. INTRODUCTION

The United States Department of Justice (" government" ) has moved to intervene in this action for the limited purpose of moving to stay discovery, and has further moved for a stay of discovery pending the conclusion of parallel criminal proceedings (Docket No. 16). Defendant John Patrick O'Neill (" Mr. O'Neill" ) has moved to stay all proceedings as to him (Docket No. 17). As more fully set forth below, the motion to intervene is granted. Both motions to stay are denied, although any deposition of Defendant Robert Bray (" Mr. Bray" ) is stayed, and the government retains the right to object to particular discovery requests, which objections will be dealt with by the Court as they arise.

II. RELEVANT PROCEDURAL HISTORY

The Securities and Exchange Commission (" SEC" ) filed the instant action against Mr. O'Neill and Mr. Bray on August 18, 2014, alleging violations relating to insider trading activities (Docket No. 1). This is a civil case. There are also parallel criminal cases pending against Mr. O'Neill and Mr. Bray arising out of the same alleged insider trading activity. See United States v. O'Neill, Criminal No. 14-10317-WGY; United States v. Bray, Criminal No. 14-10356-WGY. On December 4, 2014, Mr. O'Neill waived indictment and pled guilty to an Information charging him with conspiring to commit securities fraud in violation of 18 U.S.C. § 371. Shortly thereafter, on December 10, 2014, Mr. Bray was charged by a grand jury with conspiring to commit securities fraud in violation of 18 U.S.C. § 371, and securities fraud in violation of 15 U.S.C. § § 78j(b), 78ff(a) and 17 C.F.R. § 240.10b-5. Trial

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against Mr. Bray is scheduled to begin on October 19, 2015.

On February 2, 2015, the government filed the instant Motion for Leave to Intervene and for a Stay of Discovery Pending Resolution of Parallel Criminal Proceedings (Docket No. 16). Mr. O'Neill assents to the government's requests to intervene and for a stay of discovery. The SEC assents to the request to intervene and takes no position on the request for a stay of discovery. On February 11, 2015, Mr. O'Neill filed his Motion to Stay All Proceedings as to him (Docket No. 17). Neither the government nor the SEC ...


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