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United States Sec. & Exch. Comm'n v. Shumake

United States District Court, E.D. Michigan, Southern Division
Jun 9, 2023
21-cv-12193 (E.D. Mich. Jun. 9, 2023)

Opinion

21-cv-12193

06-09-2023

UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. ROBERT SAMUEL SHUMAKE, JR., et al., Defendants.


ORDER GRANTING IN PART AND DENYING IN PART DEFENDANT ROBERT SAMUEL SHUMAKE, JR.'S MOTION TO DISMISS THE COMPLAINT FOR FAILURE TO STATE A CLAIM (ECF NO. 14) AND GRANTING PLAINTIFF LEAVE TO FILE A FIRST AMENDED COMPLAINT

MATTHEW F. LEITMAN UNITED STATES DISTRICT JUDGE

On June 9, 2023, the Court held a hearing over video conferencing to hear argument on Defendant Robert Samuel Shumake, Jr.'s Motion to Dismiss the Complaint for Failure to State a Claim (ECF No. 14). For the reasons explained on the record during that hearing, Defendant Shumake, Jr.'s motion (ECF No. 14) is GRANTED IN PART and DENIED IN PART as follows:

• The motion is GRANTED to the extent that it seeks dismissal of Plaintiff's claims against Shumake under Securities and Exchange Commission (SEC) Rule 10b-5(b), 17 CFR § 240.10b-5(b).
• The motion is DENIED in all other respects.
Moreover, as further explained on the record, the Court GRANTS Plaintiff leave to file a First Amended Complaint by no later than June 30, 2023. If Plaintiff decides not to file a First Amended Complaint, it shall file a notice on the docket by no later than June 30, 2023 informing the Court that it will not be amending its complaint.

IT IS SO ORDERED.


Summaries of

United States Sec. & Exch. Comm'n v. Shumake

United States District Court, E.D. Michigan, Southern Division
Jun 9, 2023
21-cv-12193 (E.D. Mich. Jun. 9, 2023)
Case details for

United States Sec. & Exch. Comm'n v. Shumake

Case Details

Full title:UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. ROBERT…

Court:United States District Court, E.D. Michigan, Southern Division

Date published: Jun 9, 2023

Citations

21-cv-12193 (E.D. Mich. Jun. 9, 2023)