Securities and Exchange Commission v. True North Finance Corporation et al
| Securities and Exchange Commission |
| True North Finance Corporation, Capital Solutions Monthly Income Fund, LP, Capital Solutions Distributors, LLC, Capital Solutions Management, LP, Transactional Finance Fund Management, LLC, Todd A. Duckson, Michael W. Bozora, Timothy R. Redpath and Owen Mark Williams |
| 0:2010cv03995 |
| September 21, 2010 |
| US District Court for the District of Minnesota |
| DMN Office |
| Hennepin |
| Donovan W. Frank |
| Jeffrey J. Keyes |
| Securities/Commodities |
| 15 U.S.C. ยง 77 |
| None |
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The following documents for this case are available for you to view or download:
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Filing
401
MEMORANDUM OPINION AND ORDER. Defendant Todd A. Duckson's Motion for New Trial (Doc. No. 395 ) is DENIED. (Written Opinion). Signed by Judge Donovan W. Frank on 12/18/2014. (BJS)
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Filing
392
MEMORANDUM OPINION AND ORDER. 1. On October 22, 2013, the jury reached a verdict in favor of Plaintiff on each of the following counts based on two time periods (between March 2008 through late October 2008 (Period 1) and October 2008 through Decembe r 2009 (Period 2)): (1) Count I (direct violations of Section 10(b) of the Exchange Act, and Rule 10b-5, promulgated thereunder, against the Fund for Period 1 and Period 2, and against Duckson and the Fund for Period 2); (2) Count II (aiding and abet ting the Funds violations of Section 10(b) of the Exchange Act, and Rule 10b-5, promulgated thereunder, against Duckson for Period 1); and (3) Count III (direct violations of Section 17(a) of the Securities Act against Duckson and the Fund for Period 1 and Period 2) (Doc. No. 355 .) 2. Plaintiff is entitled to judgment on Count I of the Second Amended Complaint against Defendants Duckson, the Fund, and TFFM (Doc. No. 163 ). 3. Plaintiff is entitled to judgment on Count I of the Second Amended Complaint Duckson (Doc. No. 163 ). 4. Plaintiff is entitled to judgment on Count I of the Second Amended Complaint Duckson and the Fund (Doc. No. 163 ). 5. The jury found in favor of TFFM on Count III. As such, Count III of the Second Amended Compl aint (Doc. No. 163 ) as asserted against TFFM is DISMISSED WITH PREJUDICE. 6. Plaintiff's Motion for Remedies (Doc. No. 360 ) is GRANTED IN PART AND DENIED IN PART as follows:(See Order for additional information.)(Written Opinion). Signed by Judge Donovan W. Frank on 6/27/2014. (BJS)
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Filing
323
MEMORANDUM OPINION AND ORDER. This matter came before the Court for a pretrial hearing on September 3, 2013. Consistent with, and in addition to the Court's rulings and remarks from the bench, and based upon the memoranda, pleadings, and argumen ts of counsel, and the Court having reviewed the contents of the file in this matter and being otherwise duly advised in the premises, the Court hereby enters the following (see Order for details).(Written Opinion). Signed by Judge Donovan W. Frank on 9/6/2013. (BJS)
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Filing
154
MEMORANDUM OPINION AND ORDER. Defendants Capital Solutions Monthly Income Fund, LP and Transactional Finance Fund Management, LLCs' Joint Motion for Summary Judgment (Doc. No. 113 ) and Defendant Todd A. Duckson's Motion for Summary Judgm ent (Doc. No. 117 ) are GRANTED IN PART and DENIED IN PART as follows: 1. Absent reference to a specific time period, the Court's order applies to statements made during the entire alleged period of fraud (March 2008 to December 2009); 2. Defen dants' motions are DENIED to the extent that they seek dismissal of primary liability claims under Rule 10b-5 or § 17(a)(1) for statements regarding the Fund's risks, strategy success (February 2009 to December 2009), foreclosure termi nology, and use investor funds (May 2008 to December 2009); 3. Defendants' motions are GRANTED to the extent they seek dismissal of primary liability claims under Rule 10b-5 or § 17(a)(1) for statements regarding the Hennessey credit bid, l oans to CS entities, use of investor funds (March 2008 to April 2008), FCB lawsuit, interest reserve account level, and Gardner's background; 4. Defendants' motions are DENIED to the extent they seek dismissal of secondary liability claims under Rule 10b-5 for statements regarding the Fund's risks, strategy success (February 2009 to December 2009), foreclosure terminology, and use investor funds (May 2008 to December 2009); 5. Defendants' motions are GRANTED to the extent the y seek dismissal of secondary liability claims under Rule 10b-5 for statements regarding the Hennessey credit bid, loans to CS entities, use of investor funds (March 2008 to April 2008), FCB lawsuit, interest reserve account level, and Gardner's backgrund; 6. Defendants' motions are DENIED to the extent they seek dismissal of § 17(a)(2) and (3) claims for statements regarding the success of the Fund's strategy (March 2008 to January 2009) and use of investor funds (March 2008 to April 2008); and 7. Defendants' motions are GRANTED to the extent they seek dismissal of § 17(a)(2) and (3) claims for statements regarding the FCB lawsuit. (Written Opinion). Signed by Judge Donovan W. Frank on 11/09/2012. (BJS)
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Filing
62
MEMORANDUM OPINION AND ORDER. 1. Defendant True North Finance Corporation's Motion to Dismiss (Doc. No. 29 ) is DENIED. 2. Defendant Owen Mark Williams' Motion to Dismiss (Doc. No. 39 ) is DENIED. (Written Opinion). Signed by Judge Donovan W. Frank on 4/6/2011. (BJS)
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