Dear KLS Stanford SEC Clients,
We write to update you on the current status of this case.
- Order of Limited Discovery: As you are aware from our previous updates, in February 2013, the Court through the Magistrate Judge had ordered the US Government to provide discovery to Plaintiffs including disclosure of documents and information on a limited basis while a second Motion to Dismiss was outstanding. Since that time, the Government has repeatedly argued about the quantity and nature of the information they are prepared to give us, which has required us to go back to the court several times, for both hearings upon filing a number of motions and responses.
- Discovery Orders and Multiple Hearings on Discovery: As you can see from the attached documents, KLS has participated in and requested several hearings in order to obtain the discovery initially ordered by the magistrate judge. Each of the times we have gone back to Court, we have been successful in persuading the Judge to allow discovery to proceed – despite the Government’s repeated objections.
- Stay of Proceedings: Only a few days ago, and amidst our progress to date, the District Court Judge in the case has just handed down an order staying all proceedings as he prepares to provide a ruling on the second motion to dismiss.
We will advise all clients as soon as this happens, but in the meantime, please do not hesitate to contact us if you have any questions.
The KLS Stanford Team. .
For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group – SIVG official forum http://sivg.org.ag/