Securities and Exchange Commission v. Fusion Hotel Management LLC

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF CALIFORNIA

11 SECURITIES AND EXCHANGE Case No. 3:21-cv-02085-L-MSB

COMMISSION,

ORDER GRANTING THE

13 Plaintiff, GOVERNMENT’S MOTION TO vs. EXTEND STAY

[ECF No. 33]

FUSION HOTEL MANAGEMENT

LLC, et al., Defendants.

In this enforcement action filed by the United States Securities and Exchange Commission (“SEC” or “Commission”), the United States (“Government”) filed a motion to extend the stay of proceedings until January 31, 2024. (ECF No. 33.) No oppositions have been filed. The Court decides the matter on the papers submitted and without oral argument. See Civ. L. R. 7.1(d.1). For the reasons stated below, the Government’s motion is granted. The SEC filed this action against Defendants Fusion Hotel Management LLC (“FHM”), Fusion Hospitality Corporation (“FHC,” FHM and FHC collectively, “Fusion”), and Denny T. Bhakta (“Bhakta”). According to the Complaint, Bhakta raised over $15 million from more than 40 investors by selling “Capital Notes” issued representations that Fusion…