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Adams v. Compass Partners, LLC

United States District Court, D. Nevada

May 23, 2018

LEONARD C. ADAMS, et al, Plaintiffs,
v.
COMPASS PARTNERS, LLC, et al, Defendants.

          Daniel T. Hayward LAXALT & NOMURA, LTD. Attorneys for the Compass Defendants

          Michael J. Collins, Robert M. Millimet Brewer Attorneys & Counselors Attorneys for Plaintiffs

          Lisa Rasmussen Law Office of Lisa Rasmussen Attorneys for Plaintiffs (except Daniel Newman)

          David Clark Lipson, Neilson, Cole, Seltzer & Garin, P.C. Attorneys for Plaintiff Daniel Newman

          Mark L. Olson, in pro per

          STIPULATION / JOINT MOTION TO EXTEND DISPOSITIVE MOTION AND PROPOSED JOINT PRETRIAL ORDER DUE DATES PENDING COMPLETION OF PROPOSED SETTLEMENT (FOURTH REQUEST) AND REQUEST FOR STATUS CONFERENCE

          Robert C. Jones, Senior District Judge.

         The Plaintiff Direct Lenders, by and through their attorneys Michael J. Collins and Robert M. Millimet of Brewer, Attorneys and Counselors and Lisa Rasmussen of the Law Office of Lisa Rasmussen, Plaintiff Direct Lender Daniel Newman, by and through his attorneys Michael J. Collins and Robert M. Millimet of Brewer, Attorneys and Counselors and David Clark of Lipson, Neilson, Cole, Seltzer & Garin, P.C., Defendants David Blatt, Jay Cohen, Leonard Mezei, Ron Friedman, Compass Financial Partners, LLC, Compass FP Corp., Compass Partners, LLC, Compass USA GP, LLC, Compass USA Holding, LLC, Compass USA, LP, Compass USA SPE, LLC, Economic Growth Group, Inc., and Repotex, Inc. (collectively, the "Compass Defendants"), by and through their attorneys Daniel T. Hayward and Holly S. Parker of Laxalt & Nomura, Ltd., and Defendant Mark L. Olson, in pro per, hereby stipulate and jointly move the Court pursuant to LRIA 6-1, LR II26-4, and FRCP 16(b)(4) for an Order extending the existing June 2, 2018 dispositive motion deadline and the existing July 31, 2018 proposed Joint Pretrial Order due date.

         The Plaintiff Direct Lenders and Compass Defendants' representatives have signed a proposed Settlement Agreement, and the Plaintiff Direct Lenders will soon be filing a Motion for Approval of Settlement. However, there is insufficient time between now and the June 2, 2018 dispositive motion due date for the forthcoming Motion for Approval of Settlement to be fully briefed (in the event any opposition is filed) and decided by the Court.[1] And, the parties believe that the filing of a motion for summary judgment in the interim would likely be damaging to the cause of settlement. Further, if the proposed settlement is approved but one or more claims by non-settling Plaintiff Direct Lenders remain, the parties would be able to draft far more streamlined dispositive motions and a Joint Pretrial Order after it has been determined which specific loans - if any - remain at issue.

         The Plaintiff Direct Lenders are confirming their settlement vote totals and assessing how best to achieve Court approval of the settlement. Thus, the parties respectfully request that the Court set a status conference in approximately 60 days to discuss this case, including the Court's approval of the forthcoming Motion for Approval of Settlement.

         This is the parties' fourth request for a continuance of these pretrial due dates and the related requested relief. It is the parties' first request for a status conference regarding these issues.

         A. Procedural history.

         This case was originally filed on March 6, 2011, by the Plaintiff Direct Lenders against the Compass Defendants and numerous other Defendants. Following various motions to dismiss, pleading amendments, and settlements, Plaintiffs filed a Second Amended Complaint on November 1, 2012 against the Compass Defendants, Oakbridge Capital Inc., Mark Olson, Windemere Capital, LLC, Tyson Lomazow, and the Citron Defendants. (ECF No. 176.)

         The Compass Defendants filed an Answer and Affirmative Defenses to Second Amended Complaint in ...


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