Securities & Exchange Commission v. Kistler

District Court, S.D. New York

Securities & Exchange Commission v. Kistler

Trial Court Opinion

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK SECURITIES & EXCHANGE COMMISSION, Plaintiff, ORDER – against – 22-cv-10657 (ER) BRIAN K. KISTLER and NEW OPPORTUNITY BUSINESS SOLUTIONS, INC., Defendants.

RAMOS, D.J.: �e Securities and Exchange Commission (SEC) previously asked the Court to enter proposed consent judgments against defendants Brian K. Kistler and New Opportunity Business Solutions, Inc. (NOBS). Doc. 54. �e SEC has now withdrawn that request as to NOBS, Doc. 58, which is a corporation and is not represented by counsel in this matter, see Doc. 55. Additionally, Kistler has asked the Court to amend his consent judgment to remove the civil penalty in light of the Supreme Court’s decision in SEC v. Jarkesy, 603 U.S. ---, --- S. Ct. ---, No. 22-859,

2024 WL 3187811

(U.S. June 27, 2024). Doc. 56. Otherwise, Kistler requests that the consent judgment be set aside.

Id.

�e Court agrees with the SEC that Kistler has not identified any basis for the Court to remove the civil penalty from the consent judgment. See Doc. 58. Kistler’s request is therefore DENIED. �e parties are directed to meet and confer to discuss how the case should proceed. �e Court will hold a telephonic status conference on July 25, 2024, at 11:00 a.m. �e parties are directed to dial 877-411-9748 and enter access code 3029857# when prompted. It is SO ORDERED.

Dated: July 9, 2024 : 4 1 New York, New York bt i. EDGARDO RAMOS, U.S.D.J.

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