Federal Trade Commission v. Triangle Media Corporation

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF CALIFORNIA 10 FEDERAL TRADE COMMISSION, Case No.: 18-cv-1388-LAB-WVG

Plaintiff,

ORDER DENYING MOTION TO

v. INTERVENE [Dkt. 153] TRIANGLE MEDIA CORPORATION;

JASPER RAIN MARKETING LLC;

HARDWIRE INTERACTIVE INC.;

GLOBAL NORTHERN TRADING LIMITED; BRIAN PHILLIPS; and

DEVIN KEER,

18 Defendants.

Wells Fargo & Company and Wells Fargo Bank, N.A. (collectively, “Wells Fargo”) is a non-party proposed intervenor seeking to have this Court vacate its November 18, 2019 Order authorizing the Court-appointed Receiver, Thomas McNamara (“Receiver”), to pursue litigation against Wells Fargo for over $160 million in monetary damages owed by the named Defendants in this case. Wells Fargo argues that, per the Supreme Court’s ruling in AMG Capital Management, LLC v. FTC, 141 S. Ct. 1341 (2021), the Federal Trade Commission (“FTC”) lacks the authority to obtain equitable monetary relief under Section 13(b) of the FTC Act, 15…