Securities and Exchange Commission v. McGinn, Smith & Co, Inc. et al

Plaintiff: Securities and Exchange Commission
Defendant: McGinn, Smith & Co, Inc., McGinn, Smith Advisors, LLC, McGinn, Smith Capital Holdings Corp., First Advisory Income Notes, LLC, First Excelsior Income Notes, LLC, First Independent Income Notes, LLC, Third Albany Income Notes, LLC, Timothy M. McGinn, David L. Smith and Lynn A. Smith
 
Case Number: 1:2010cv00457
Filed: April 20, 2010
 
Court: New York Northern District Court
Office: Albany Office
County: Albany
Presiding Judge: Gary L. Sharpe
Referring Judge: Randolph F. Treece
 
Nature of Suit: Securities/Commodities/Exchanges
Cause of Action: 28:1345
Jury Demanded By: Plaintiff

Available Case Documents

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Date Filed#Document Text
May 9, 2011 321 Featured Case MEMORANDUM-DECISION and ORDER, that Lynn Smith's 224 Motion to Dismiss is DENIED. That the Trust, Geoffrey Smith, and Lauren Smith's 283 Motion to Dismiss is GRANTED in part as to the fraudulent conveyance claims against Lauren Smith a nd Geoffrey Smith in his individual capacity. That the Trust, Geoffrey Smith, and Lauren Smith's 283 Motion to Dismiss is DENIED in part as to the fraudulent conveyance claim against the Trust. That the SEC is GRANTED limited leave to re-ame nd its complaint, in full compliance with the terms of this Order, within thirty (30) days from the date of the filing of this Order, after which Geoffrey Smith and Lauren Smith shall respond to the complaint as permitted under the Federal Rules of C ivil Procedure. That if the SEC fails to file an amended complaint within thirty (30) days from the date of the filing of this Order, the Clerk of the Court shall enter judgment dismissing Geoffrey Smith and Lauren Smith from this action without further order of the court. Signed by Judge Gary L. Sharpe on 5/6/2011. (jel, )
April 4, 2012 478 Featured Case MEMORANDUM-DECISION and ORDER. IT IS HEREBY ORDERED that Timothy McGinn's motion for the release of assets from the preliminary injunction to pay attorney's fees and costs in the parallel criminal action 439 is GRANTED in part and DENIED in part as set forth in this Order; 2) David Smith's motion for the release of assets from the preliminary injunction to pay attorney's fees and costs in the parallel criminal action 440 is GRANTED in part and DENIED in part as set forth in this Order; and 3) The Trust's motion for the release of assets from the preliminary injunction to pay past and future expenses, to reimburse David Smith and his wife for Trust expenses they paid, and for payment of attorney's fees and costs in this action 441 is DENIED in all respects. Signed by Magistrate Judge David R. Homer on 4/4/2012. (mab)
April 4, 2012 479 Featured Case ORDER regarding 453 the motion of William J. Brown, as Receiver, for an Order Approving the Sale and Bidding Procedures with Respect to the Sale of Certain Alarm System Monitoring Accounts. IT IS HEREBY ORDERED that the Motion is APPROVED. IT IS FU RTHER ORDERED that the Receiver's interests in the Accounts and assets on the Rider to the APA shall be sold and assigned to the Purchaser without recourse, representation or warranty and free and clear of all liens, claims, encumbrances and oth er interests, with such liens and claims, if any, attaching to the net proceeds of sale. IT IS FURTHER ORDERED that the Receiver is authorized to pay the break-up fee of $60,000.00 to the stalking horse bidder, Alarm Services, LLC. Signed by Magistrate Judge David R. Homer on 4/4/2012. (mab)
October 15, 2012 539 Featured Case MEMORANDUM-DECISION and ORDER granting 538 Sealed Application. Signed by Magistrate Judge Christian F. Hummel on 10/15/2012. (dpk)
January 8, 2013 557 Featured Case MEMORANDUM-DECISION AND ORDER re 556 Sealed Document filed by David L. Smith. It is hereby ORDERED, that Dreyer Boyajian LLP's Fourth Application for compensation for legal services rendered between 12/1/2012 and 12/31/2012 in the amount of & #036;66,717.50 is approved. ORDERED that the application by Dreyer Boyajian LLP for reimbursement of costs expended between 12/1/2012 and 12/31/2012 in the amount of $900.89 is approved. ORDERED that Dreyer Boyajin LLP may make further applications as deemed appropriate. ORDERED that Dreyer Boyajian LLP is authorized to make the payments allowed pursuant to this Order. Signed by Magistrate Judge Christian F. Hummel on 1/8/2013. (dpk)
February 19, 2013 562 Featured Case MEMORANDUM-DECISION AND ORDER re 561 Amended Fifth Application for Attorney's Fees and Costs filed by David L. Smith. ORDERED that Dreyer Boyajian LLP's Fifth Amended Application for compensation for legal services rendered between 1/1/2 013 and 1/31/2013 in the amount of $92,137.50 is approved. ORDERED that the application by Dreyer Boyajian LLP for reimbursement of costs expended between 1/1/2013 and 1/31/2013 in the amount of $3,502.09 is approved. ORDERED that Dreyer Boyajian LLP may make further applications as deemed appropriate. ORDERED that Dreyer Boyajian LLP is authorized to make the payments allowed pursuant to this Order. Signed by Magistrate Judge Christian F. Hummel on 2/19/2013. (dpk)
November 22, 2013 647 Featured Case MEMORANDUM DECISION and ORDER re 604 Status Report filed by William J Brown. It is ORDERED that the Receiver may proceed with the sale of the Sacandaga Lake Property pursuant to the report filed with the court (Dkt. No. 604). Signed by Magistrate Judge Christian F. Hummel on 11/22/2013. (lah)
February 21, 2014 684 Featured Case MEMORANDUM-DECISION AND ORDER denying 660 Motion to Amend Documentation. It is hereby ORDERED that the Trust's motion to amend its documentation to delete the provisions authorizing the Trust to enter into the private annuity agreement with David and Lynn Smith is DENIED. Signed by Magistrate Judge Christian F. Hummel on 2/21/2014. (dpk)

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Plaintiff: Securities and Exchange Commission
Represented By: David P. Stoelting
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Defendant: McGinn, Smith & Co, Inc.
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Defendant: McGinn, Smith Advisors, LLC
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Defendant: McGinn, Smith Capital Holdings Corp.
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Defendant: First Advisory Income Notes, LLC
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Defendant: First Excelsior Income Notes, LLC
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Defendant: First Independent Income Notes, LLC
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Defendant: Third Albany Income Notes, LLC
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Defendant: Timothy M. McGinn
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Defendant: David L. Smith
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Defendant: Lynn A. Smith
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