Securities and Exchange Commission v. The Movie Studio, Inc.

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA CASE NO. 0:21-cv-61686-DPG SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. THE MOVIE STUDIO, INC. and GORDON SCOTT VENTERS, Defendants. _______________________________________________/ ORDER AFFIRMING AND ADOPTING REPORT OF MAGISTRATE JUDGE THIS CAUSE comes before the Court on Magistrate Judge Jared M. Strauss’ Report and Recommendation (“Report”). [ECF No. 67]. On August 13, 2021, Plaintiff filed its Complaint against Defendants alleging that Defendants made false and misleading statements to The Movie Studio, Inc.’s investors. [ECF No. 1]. On May 5, 2023, Defendants filed their Second Amended Motion to Dismiss or Alternatively Motion for a More Definite Statement or to Strike Plaintiff’s Complaint. [ECF No. 55]. On July 31, 2023, the case was referred to Judge Strauss, pursuant to 28 U.S.C. § 636(b)(1)(B), for a ruling on all pretrial, non-dispositive matters, and for a report and recommendation on any dispositive matters. [ECF No. 65]. In his Report, Judge Strauss recommends that the Court deny the Second Amended Motion to Dismiss. Id. Defendants failed to timely object to the Report.

A district court may accept, reject, or modify a magistrate judge’s report and recommendation. 28 U.S.C. § 636(b)(1). Those portions of the report and recommendation to which objection is made are accorded de novo review if those objections “pinpoint the specific findings that the party disagrees with.” United States v. Schultz, 565 F.3d 1353, 1360 (11th Cir. 2009); see also Fed. R. Civ. P. 72(b)(3). Any portions of the report and recommendation to which no specific objection is made are reviewed only for clear error. Liberty Am. Ins. Grp., Inc. v. WestPoint Underwriters, L.L.C., 199 F. Supp. 2d 1271, 1276 (M.D. Fla. 2001); accord Macort v. Prem, Inc., 208 F. App’x 781, 784 (11th Cir. 2006).

This Court finds no clear error with Judge Strauss’ well-reasoned analysis and agrees that the Second Amended Motion to Dismiss must be denied. Accordingly, after careful consideration, itis ORDERED AND ADJUDGED as follows: (1) Judge Strauss’ Report and Recommendation, [ECF No. 67], is AFFIRMED AND ADOPTED and incorporated into this Order by reference; and (2) Defendants’ Second Amended Motion to Dismiss or Alternatively Motion for a More Definite Statement or to Strike Plaintiff's Complaint, [ECF No. 55], is DENIED.

DONE AND ORDERED in Chambers at Miami, Florida, this 6th day of September, 2023.

~ 12 & DARRIN P. GAYLES UNITED STATES DIS/PRACT JUDGE