Huston

Huston v. Imperial Credit Commercial Mortgage Investment Corp.

Good Law

179 F. Supp. 2d 1157·2001 WL 1668990·2001 U.S. Dist. LEXIS 21756

United States District Court, Central District of CaliforniaDecember 21, 2001CV00-02751ABCRNBxCalifornia10,992 words

Opinion

Collins, J.

ORDER GRANTING DEFENDANTS’ MOTION TO DISQUALIFY PLAINTIFF’S COUNSEL

Defendants Imperial Credit Commercial Mortgage Corp. (“ICCMIC”), Mark S. Karlan (“Karlan”), H. Wayne Snavely (“Snavely”) and Kevin E. Villani (“Villani”) (collectively, “Defendants”) filed a Motion to Disqualify Plaintiffs Counsel on August 20, 2001 (“Motion to Disqualify”). Defendants assert that Plaintiffs counsel, Stan-bury Fishelman Wisner & Adsit (“Stan-bury Fishelman”) and Joseph R. Parise (“Parise”) should be disqualified and enjoined from any further participation as counsel in the instant action.

After considering the materials submitted by the parties, argument of counsel, and the ease file, the Court GRANTS Defendants’ Motion to Disqualify.

I. PROCEDURAL BACKGROUND

The instant motion arises from a securities action filed on March 17, 2000, in which Plaintiff John Huston (“Huston” or “Plaintiff’) asserts claims pursuant to Section 11 of the 1933 Securities Act, 15 U.S.C. § 77k, related to the initial public offering (“IPO”) of defendant ICCMIC (the “Securities Action”). See Motion to Disqualify at 1. Plaintiff is suing ICCMIC and three of the seven ICCMIC directors who signed the ICCMIC initial…

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