Feshbach

Feshbach v. Securities & Exchange Commission

Caution

5 F. Supp. 2d 774·1997 WL 906453·1997 U.S. Dist. LEXIS 22620

United States District Court, Northern District of CaliforniaApril 23, 1997C-95-4465 SICalifornia5,576 words

Opinion

Illston, J.

ORDER PARTIALLY GRANTING AND PARTIALLY DENYING CROSS-MOTIONS FOR SUMMARY JUDGMENT

On April 11, 1997, the Court heard argument on plaintiffs’ and defendant’s cross-motions for summary judgment. Having considered the arguments of counsel and the papers submitted, the Court hereby GRANTS in part and DENIES in part plaintiffs’ and defendant’s motions for summary judgment.

BACKGROUND

On December 13, 1995, plaintiffs Matthew Feshbach, Joseph Feshbach, and Kurt Fesh-bach (“the Feshbachs”) filed this action under the Freedom of Information Act (“FOIA”), 5 U.S.C. § 552 (a) et seq., seeking to enjoin defendant Securities and Exchange Commission (“Commission”) from withholding agency records related to the Commission’s investigation of the Feshbachs and their business, Stockbridge Partners, Inc. (“Stockbridge”).

In late 1989, the Commission’s San Francisco Branch Office conducted an examination of Stockbridge, which was at the time a broker-dealer registered with the Commission, and issued an examination report on January 19, 1990. Decl. of Richard A. Castro (“Castro Deck”) at ¶ 9. From June 28, 1990 to July 13, 1990, the National Association of Securities Dealers, Inc. (“NASD”)…

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