Steadfast Financial LP v. Steadfast Advisory Group, LLC

District Court, S.D. New York

Steadfast Financial LP v. Steadfast Advisory Group, LLC

Trial Court Opinion

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK

STEADFAST FINANCIAL LP and STEADFAST : CAPITAL MANAGEMENT, : Plaintiffs, : 20-CV-5767 (JMF) -V- : ORDER STEADFAST ADVISORY GROUP, LLC, : Defendant. :

JESSE M. FURMAN, United States District Judge: Earlier today, the Court received an email, attached as Exhibit A, from Mr. Pier-Luca Bruno, a principal of Defendant Steadfast Advisory Group, LLC. As a courtesy, in light of the email, Defendant’s deadline to file an opposition to the motion for default judgment is hereby EXTENDED to October 26, 2020. Should Defendant file an answer to the complaint by that date, the parties shall — per the Court’s prior Order — treat the proceedings on November 5, 2020 at 3:15 p.m. as the initial pretrial conference. That is, the parties shall follow the preconference procedures specified in the Court’s Order of July 27, 2020 including by submitting a joint letter addressing certain topics and a proposed case management plan no later than the Thursday prior to the conference. See ECF No. 9. Defendant is cautioned that a limited liability company may appear in federal court only through licensed counsel, see Lattanzio v. COMTA,

481 F.3d 137, 140

(2d Cir. 2007), and where a limited liability company “repeatedly fails to appear by counsel, a default judgment may be entered against it,” Grace v. Bank Leumi Tr. Co. of N.Y.,

443 F.3d 180, 192

(2d Cir. 2006) (internal quotation marks omitted). Defendant is further cautioned that all filings with the Court must be made on the ECF system through counsel. Plaintiffs are directed to confer with Mr. Bruno with respect to whether a referral to mediation — in advance of the proceedings on November 5, 2020 — would be helpful or appropriate. It is further ORDERED that Plaintiffs shall serve a copy of this Order on Mr. Bruno at the email address listed in Exhibit A. Within two business days of service, Plaintiffs must file proof of such service on the docket. SO ORDERED. Dated: October 6, 2020 New York, New York SSE M-FURMAN ited States District Judge

EXHIBIT A FTroo:m: PFuierrm Barnu nNoYSD Chambers Subject: FW: Motion for Default Judgment Date: Tuesday, October 6, 2020 11:57:55 AM Attachments: Dkt. 16 - 2020-10-5 - Notice of Motion (DJ).pdf Dkt. 17 - 2020-10-05 - [PROPOSED] FINAL DEFAULT JUDGMENT - STEADFAST.pdf Dkt. 18 - L. Pearson Declaration - ISO DJ.pdf Dkt. 18-1 - Exhibit A - Complaint - (L. Pearson Declaration).pdf Dkt. 18-2 - Exhibit B - Affidavit of Service - (L. Pearson Declaration).pdf Dkt. 18-3 - Exhibit C - Certificate of Service of Order Scheduling Default Judgment - (L. Pearson Declaration).pdf Dkt. 18-4 - Exhibit D - Certificate of Default - (L. Pearson Declaration).pdf Dlkt. 19 - 2020-10-05 - FINAL Satterthwaite Declaration-3.pdf Dkt. 19-1 - Exh 1.pdf Dkt. 19-2 - Exh 2.pdf Dkt. 19-3 - Exh 3 Emails P Bruno oct-april.pdf Dkt. 19-4 - Exh 4 Kohrs_Bruno emails.pdf Dkt. 19-5 - Exh 5.pdf Dkt. 19-6 - Exh 6 August 3 emails.pdf Dkt. 19-7 - Exh 7.pdf Dkt. 19-8 - Exh 8 emails with Bruno in September.pdf Dkt. 20 - T. Fortin Declaration- FINAL.pdf Dkt. 20-1 - Fortin Exh 1-1.pdf Dkt. 20-2 - Fortin Exh 1-2.pdf Dkt. 20-3 - Fortin Exh 2-1.pdf Dkt. 20-4 - Fortin Exh 2-2 Steadfast Financial LP Website.pdf Dkt. 20-5 - Fortin Exh 2-2.pdf Dkt. 20-6 - Fortin Exh 2-3.pdf Dkt. 20-7 - Fortin Exh 2-4.pdf Dkt. 20-8 - Fortin Exh 2-5.pdf Dkt. 20-9 - Fortin Exh 3.pdf Dkt. 21 - 2020-10-5 - FINAL Memo iso Motion for Default Judgment.PDF USPS.com® - USPS Tracking® Results #9214896900597932533699.pdf AOS (Steadfast Advisory Group, LLC).pdf Re Steadfast Advisory Group.msg RE Complaint - Steadfast Advisory Group .msg CAUTION - EXTERNAL EMAIL: This email originated outside the Judiciary. Exercise caution when opening attachments or clicking on links. Honorable Jesse M. Furman,

When your schedule permits, I would like to schedule a call for us to discuss the attached motion as it pertains to default judgment.

In light of the hardships that my business has faced as it pertains to COVID, I do not have the resources to hire proper counsel to appropriately respond to the subject complaint. I have attached the USPS tracking receipt provided to me by the State of New York – Department of State evidencing the failure of service of the subject complaint (Attached AOS and USPS.com – USPS Tracking). You will notice that the service was made on August 10, 2020, but wasn’t mailed out until August 21, 2020, and ultimately was returned to sender on September 1, 2020. I was not aware of the service attempt until Attorney Satterthwaite sent me an email on September 2, 2020 (attached RE: Complaint – Steadfast Advisory Group).

I have made several reasonable attempts to settle this matter with the Plaintiff on my own (attached email RE: Steadfast Advisory Group), however will now have to find counsel which I cannot afford, and will likely put us out of business.

While I don’t agree with the confusion aspect of the claim; Steadfast Financial is a hedge fund and Plaintiff as an issue with its response to my trademark application, my intention is to address this issue by changing our name and turning over our URL. I will never use Steadfast in any business name going forward, but the courts will not allow me to represent this information on my own and without expensive counsel.

While proper service is not necessarily an issue because I intend to deal with this matter as I have been, the motion for default is unfair and inaccurate. I need more time to properly address this claim and find the money to hire proper representation.

Perhaps we can discuss at your convenience.

Respectfully, Pier-Luca Bruno

Pier Bruno (617) 308-7554 Steadfast Advisory Group [email protected] www.steadfastag.com

From: Janet Satterthwaite <[email protected]> Sent: Tuesday, October 6, 2020 11:18 AM To: Pier Bruno <[email protected]> Cc: Pearson, Lisa <[email protected]>; Elissa Brockbank Reese <[email protected]> Subject: Fw: Motion for Default Judgment

Pier,

Enclosed is a courtesy copy of our Notice of Motion for Default judgment; Memorandum of Law in support; declarations in support, and exhibits, as filed yesterday with the Court.

Janet

Janet F. Satterthwaite | Partner/ Chair, Trademark Practice | Potomac Law Group, PLLC 1300 Pennsylvania Avenue, NW, Suite 700 Washington, D.C. 20004 Tel: (202) 486-1578 | Fax: (202) 318-7707 [email protected] | www.potomaclaw.com Best Lawyers

Wey 2020

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