Truong

ORDER RE: DEFENDANT’S MOTIONS FOR SUMMARY JUDGEMENT

I. INTRODUCTION

Defendants Hanh Truong (“Hahn”), Hieu Truong (“Hieu”), Hen Truong (“Hen”), and Christopher Nguyen (“Nguyen”) move for summary judgment pursuant to Federal Rule of Civil Procedure 56 in this civil enforcement proceeding by the Securities and Exchange Commission (“SEC”) for violations of federal securities laws prohibiting insider trading.

The question presented in these motions is whether the SEC has presented sufficient evidence of insider trading to warrant moving forward with a jury trial as to each Defendant. Defendants argue that the SEC has not presented sufficient probative evidence and is basing its charges on “mere suspicions.” The SEC concedes that the evidence is not overwhelming, but urges that the evidence is more than sufficient for a reasonable jury to infer that Defendants possessed and traded upon material non-public information.

Having considered the arguments and evidence presented in the briefing and at the hearing conducted on January 19, 2000, the Court now rules as follows.

II. FACTUAL BACKGROUND

Defendants are accused of violations of Section 10(b) of the Securities Exchange Act of…