Securities & Exchange Commission v. Alliance Leasing Corp.

MEMORANDUM *

Prime Atlantic, Inc., David Halsey and Braccus Giavanno appeal the district court’s grant of summary judgment for the SEC in the SEC’s securities fraud action arising out of the sale of investments in an equipment leasing program offered by Alliance Leasing Corporation and marketed by Prime Atlantic, Halsey, and Giavanno. The SEC cross-appeals the district court’s denial of the SEC’s request for a permanent injunction against appellants.

We have jurisdiction pursuant to 28 U.S.C. § 1291 and review the district court’s grant of summary judgment de novo. Koch v. Hankins, 928 F.2d 1471, 1475 (9th Cir.1991). We affirm.

The appellants argue that the district court lacked jurisdiction to enter the amended order and judgment. We review de novo the district court’s exercise of subject matter jurisdiction. Natural Res. Def. Council, Inc., v. Southwest Marine Inc., 242 F.3d 1163, 1166 (9th Cir.2001). The district court had the authority to disregard the technical local rule and consider the Rule 59 motion timely filed under Fed.R.Civ.P. 59(b). The notices of appeal filed before disposition of the timely Rule 59 motion did not divest the district court of jurisdiction. Fed.…