Securities and Exchange Commission v. Imran Husain

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66 77 United States District Court 88 Central District of California 99 1100 1111 SECURITIES AND EXCHANGE Case No. 2:16-cv-03250-ODW (Ex)

COMMISSION,

1122 ORDER GRANTING IN PART AND Plaintiff, DENYING IN PART PLAINTIFF’S 1133 MOTION FOR SUMMARY v. JUDGMENT [97]; AND 1144 DENYING DEFENDANT’S MOTION

IMRAN HUSAIN; GREGG EVAN FOR PARTIAL SUMMARY

1155 JACLIN, JUDGMENT [105]

1166 Defendants.

1177 1188 I. INTRODUCTION 1199 Plaintiff Securities and Exchange Commission (“SEC”) initiated this action 2200 against Defendants Imran Husain and Gregg Jaclin for perpetrating “a shell factory 2211 scheme” in violation of federal securities laws.1 (See FAC ¶ 7, ECF No. 33.) Pending 2222 before the Court are the SEC’s Motion for Summary Judgment on all claims, and 2233 Husain’s Cross-Motion for Partial Summary Judgment on claims three through eight. 2244 (SEC’s Mot. for Summ. J. (“SEC MSJ”), ECF No. 97; Husain’s Opp. & Mot. for 2255 Partial Summ. J. (“Husain…