Alec Otto v. Nano f/k/a Raiblocks f/k/a Hieusys LLC

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 8 ALEC OTTO, Case No. 4:19-cv-00054-YGR

Plaintiff, ORDER DENYING MOTION FOR SANCTIONS

v. 11 Re: Dkt. No. 198 COLIN LEMAHIEU, ET AL., Defendants.

The Court ordered defendants Nano f/k/a/ RaiBlocks f/k/a Hieusys, LLC (“Nano”), Colin LeMahieu, Mica Busch, Zack Shapiro, and Troy Retzer (collectively, “Nano Defendants”) to brief the issue of whether sanctions should be ordered against plaintiff and/or plaintiff’s counsel under Section 27(c)(1) of the Securities Act of 1933. District courts presiding over any private action arising under Section 27(c)(1) must “include in the record specific findings regarding compliance by each party and each attorney representing any party with each requirement of Rule 11(b) of the Federal Rules of Civil Procedure as to any complaint, responsive pleading, or dispositive motion.” 15 U.S.C. § 77z-1(c). If the Court finds that any party did not comply with its Rule 11 requirements, the Court should award appropriate…