Opinion
17-cv-10001
12-22-2022
RAYMOND BALESTRA, individually and on behalf of all others similarly situated, Plaintiff, v. ATBCOIN LLC, EDWARD NG, and HERBERT HOOVER, Defendants.
[AMENDED PROPOSED] DEFAULT JUDGMENT
DENISE L. COTE, UNITED STATES DISTRICT JUDGE
It is HEREBY ORDERED that final default judgment is entered against defendants ATBCOIN LLC, Edward Ng, and Herbert Hoover (collectively, the “Defaulting Defendants”). Pursuant to Sections 12(a)(l -2) and 15(a) of the Securities Act of 1933 (15 U.S.C. 771(a) & 77o(a)), each of the Defaulting Defendants shall be jointly and severally liable to Plaintiffs and the Class for damages in the amount of $20,400,00.00 (the “Damages Figure”).
It is FURTHER ORDERED that, including pre-judgment interest per 28 U.S. Section 1961, the total figure for which the Defaulting Defendants are liable is $26,013,822.46 (the “Total Damages Figure”), plus post-judgment interest at the rate of 4.73 % per annum, computed daily from the date of this Order to the date of payment and compounded annually.
It is FURTHER ORDERED that counsel for Plaintiffs shall report to the Court by January 26, 2024 with an update concerning the status of collection efforts and an anticipated time frame for an application for an award of attorneys' fees and expenses. The deadline for any fee and expenses application is deferred-pending this updated
IT IS SO ORDERED AND ADJUDGED.