Ravi et al v. Citigroup Global Markets Holdings, Inc.
Plaintiff: Umashankar Ravi and Saritha Ravi
Defendant: Citigroup Global Markets Holdings, Inc.
Case Number: 1:2021cv02223
Filed: March 14, 2021
Court: US District Court for the Southern District of New York
Presiding Judge: Mary Kay Vyskocil
Nature of Suit: Securities/Commodities
Cause of Action: 15 U.S.C. ยง 77
Jury Demanded By: None
Docket Report

This docket was last retrieved on January 10, 2022. A more recent docket listing may be available from PACER.

Date Filed Document Text
May 11, 2021 Opinion or Order Filing 18 ORDER denying #16 Letter Motion for Conference re: #16 LETTER MOTION for Conference in Anticipation of CGMHI's Motion to Dismiss addressed to Judge Mary Kay Vyskocil from Samuel J. Rubin dated May 4, 2021. Defendant submitted a request for a pre-motion conference on its anticipated motion to dismiss Plaintiff's complaint [ECF No. 16]. Plaintiffs oppose the request but seeks to file an amended complaint [ECF No. 17]. After reviewing the arguments set out in the parties' submissions, Defendant's request for a pre-motion conference is DENIED, and defendant is GRANTED leave to file a motion to dismiss on the schedule set forth below. IT IS HEREBY ORDERED that on or before May 28, 2021, Plaintiffs must file any amended complaint. Plaintiffs are not limited only to the proposed amendments discussed in their letter to the Court, but should make any amendment they believe responds to Defendant's arguments. This will be Plaintiffs' last opportunity to amend the complaint in response to arguments raised in the parties' letters. IT IS FURTHER ORDERED that Defendant may file a motion to dismiss the complaint in this action on or before June 18, 2021. If Plaintiff files an amended complaint, Defendant's motion should be addressed to that complaint and no additional pre-motion letter is required. Plaintiffs must respond to the motion to dismiss with thirty days of its filing. Defendant must file any reply within fourteen days of Plaintiffs' opposition. If Defendant does not intend to file a motion to dismiss any amended complaint, Defendant's answer also must be filed by June 18, 2021. Any request for an extension or adjournment shall be made by letter filed on ECF andmust be received at least 72 hours before the deadline. SO ORDERED. (Signed by Judge Mary Kay Vyskocil on 5/11/2021) (rj)
May 11, 2021 Set/Reset Deadlines: Amended Pleadings due by 5/28/2021. Motions due by 6/18/2021. (rj)
May 9, 2021 Filing 17 LETTER addressed to Judge Mary Kay Vyskocil from U. Ravi and dated 5/9/21 re: In response to Defendants' "request to a pre-motion conference in advance of CGMHI's anticipated motion to dismiss the Complaint for failure to state a claim upon which relief can be granted pursuant to Federal Rules of Civil Procedure 8(a), 9(b) and 12(b)(6)." The risk disclosures upon which the defendants rely fail to meet the exacting standards requiring that "no reasonable investor could have been misled about the nature of the risk when he invested." Halperin v. ebanker USA com. Inc. 295 F 3d 352, 359(2d Cir 2002). Instead, the Registration statements' risk disclosures are insufficient because they are generic warnings etc." Document filed by Saritha Ravi, Umashankar Ravi. (Attachments: #1 Exhibit)(sc) Modified on 5/10/2021 (sc).
May 4, 2021 Filing 16 LETTER MOTION for Conference in Anticipation of CGMHI's Motion to Dismiss addressed to Judge Mary Kay Vyskocil from Samuel J. Rubin dated May 4, 2021. Document filed by Citigroup Global Markets Holdings, Inc.. (Attachments: #1 Exhibit 1).(Rubin, Samuel)
April 24, 2021 Filing 15 AFFIDAVIT OF SERVICE of Summons and Complaint. Service was accepted by Colleen Banahan. Document filed by Umashankar Ravi, Saritha Ravi. (sc)
April 20, 2021 Filing 14 LETTER addressed to Judge George B. Daniels from Samuel J. Rubin dated April 20, 2021 re: request for transfer of related cases and request for pre-motion conference. Document filed by Citigroup Global Markets Holdings, Inc...(Rubin, Samuel)
April 12, 2021 Filing 13 NOTICE OF APPEARANCE by Marshall Howard Fishman on behalf of Citigroup Global Markets Holdings, Inc...(Fishman, Marshall)
April 12, 2021 Filing 12 RULE 7.1 CORPORATE DISCLOSURE STATEMENT. Identifying Corporate Parent Citigroup Inc. for Citigroup Global Markets Holdings, Inc.. Document filed by Citigroup Global Markets Holdings, Inc...(Rubin, Samuel)
April 12, 2021 Filing 11 NOTICE OF APPEARANCE by Samuel Joseph Rubin on behalf of Citigroup Global Markets Holdings, Inc...(Rubin, Samuel)
April 12, 2021 Filing 10 LETTER addressed to Judge Andrew L. Carter, Jr. from Samuel J. Rubin dated April 12, 2021 re: Related Cases per Local Rules 1.6 and 13 (cc: Judge Mary Kay Vyskocil). Document filed by Citigroup Global Markets Holdings, Inc...(Rubin, Samuel)
April 7, 2021 Opinion or Order Filing 9 INFORMATION PACKAGE MAILED to Umashankar Ravi 14322 Heather Knoll Parkway Carmel, IN 46074, at, on 4/7/2021 Re: #7 Order of Service. The following document(s) were enclosed in the Service Package: a copy of the order of service or order to answer and other orders entered to date, the individual practices of the district judge and magistrate judge assigned to your case, Instructions for Litigants Who Do Not Have Attorneys, Notice Regarding Privacy and Public Access to Electronic Case Files, a flyer about the free legal assistance clinic located in the Thurgood Marshall Courthouse (only in non prisoner cases), a Motions guide, a notice that the Pro Se Manual has been discontinued, a Notice of Change of Address form to use if your contact information changes, a handout explaining matters handled by magistrate judges and consent form to complete if all parties agree to proceed for all purposes before the magistrate judge, a form for you to complete if you consent to receive filings electronically (only in nonprisoner cases), one or more summonses (only if you have paid the fee in person or if the judge has ordered that a summons be issued to you) - 1 copies of Summons(es) mailed. (aan)
April 7, 2021 Filing 8 SUMMONS ISSUED as to Citigroup Global Markets Holdings, Inc. (aan) (Main Document 8 replaced on 4/7/2021) (aan).
April 7, 2021 Opinion or Order Filing 7 ORDER OF SERVICE: Plaintiffs, who are proceeding pro se, paid the filing fees to commence this action. The Clerk of Court is directed to issue a summons as to Defendant Citigroup Global Markets Holdings, Inc. Plaintiffs are directed to serve the summons and complaint on Defendant within 90 days of the issuance of the summons. If within those 90 days, Plaintiffs have not either served Defendant or requested an extension of time to do so, the Court may dismiss the claims against Defendant under Rules 4 and 41 of the Federal Rules of Civil Procedure for failure to prosecute. Plaintiffs ask the Court to request pro bono counsel. The factors to be considered in ruling on an indigent litigant's request for counsel include the merits of the case, Plaintiffs' efforts to obtain a lawyer, and Plaintiffs' ability to gather the facts and present the case if unassisted by counsel. See Cooper v. A. Sargenti Co., 877 F.2d 170, 172 (2d Cir. 1989); Hodge v. Police Officers, 802 F.2d 58, 60-62 (2d Cir. 1986). Of these, the merits are "[t]he factor which command[s] the most attention." Cooper, 877 F.2d at 172. Because the merits of the case are not yet clear and because Plaintiffs have not adequately explained their efforts to obtain a lawyer to represent them, the Court denies the motion for counsel without prejudice to renewal at a later stage. The motion for counsel is denied, and the Clerk of Court is directed to terminate it. (ECF 4.) The Clerk of Court is further directed to mail Plaintiffs an information package. SO ORDERED. (Signed by Judge Mary Kay Vyskocil on 4/7/2021) (jca) Transmission to Pro Se Assistants for processing.
April 1, 2021 NOTICE OF CASE REASSIGNMENT to Judge Mary Kay Vyskocil. Judge Colleen McMahon is no longer assigned to the case..(bcu)
April 1, 2021 Magistrate Judge Kevin Nathaniel Fox is so designated. Pursuant to 28 U.S.C. Section 636(c) and Fed. R. Civ. P. 73(b)(1) parties are notified that they may consent to proceed before a United States Magistrate Judge. Parties who wish to consent may access the necessary form at the following link: #https://nysd.uscourts.gov/sites/default/files/2018-06/AO-3.pdf. (bcu)
March 29, 2021 Pro Se Payment of Fee Processed: $402.00 Check processed by the Finance Department on 3/23/2021, Receipt Number 465401276761. (Williams, Brandon)
March 19, 2021 Opinion or Order Filing 5 ORDER DENYING IFP APPLICATIONS: Leave to proceed in this Court without prepayment of fees is denied because Plaintiffs have sufficient assets to pay the fees. See 28 U.S.C. 1915(a)(1). Plaintiffs are directed to pay $402.00 in fees a $350.00 filing fee and a $52.00 administrative fee within 30 days of the date of this order. If Plaintiffs fail to comply with this order within the time allowed, the action will be dismissed. The Court certifies under 28 U.S.C. 1915(a)(3) that any appeal from this order would not be taken in good faith, and therefore in forma pauperis status is denied for the purpose of an appeal. Cf. Coppedge v. United States, 369 U.S. 438, 44445 (1962) (holding that appellant demonstrates good faith when seeking review of a nonfrivolous issue). Plaintiffs have consented to receive electronic service. (ECF 3 at 11-12.) Filing Fee due by 4/19/2021. (Signed by Judge Colleen McMahon on 3/19/2021) (vn) Transmission to Docket Assistant Clerk for processing.
March 19, 2021 NOTICE OF CASE REASSIGNMENT - SUA SPONTE to Judge Colleen McMahon. Judge Unassigned is no longer assigned to the case..(bcu)
March 14, 2021 Filing 4 APPLICATION for the Court to Request Pro Bono Counsel. Document filed by Saritha Ravi, Umashankar Ravi. (sac)
March 14, 2021 Filing 3 COMPLAINT against Citigroup Global Markets Holdings, Inc. Document filed by Umashankar Ravi, Saritha Ravi. (Attachments: #1 Main Document, #2 Exhibit A, #3 Exhibit B, #4 Exhibit C, #5 Exhibit D) (sac)
March 14, 2021 Filing 2 REQUEST TO PROCEED IN FORMA PAUPERIS. Document filed by Saritha Ravi. (sac)
March 14, 2021 Filing 1 REQUEST TO PROCEED IN FORMA PAUPERIS. Document filed by Umashankar Ravi. (sac)
March 14, 2021 Case Designated ECF. (sac)

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Plaintiff: Umashankar Ravi
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Plaintiff: Saritha Ravi
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Defendant: Citigroup Global Markets Holdings, Inc.
Represented By: Marshall Howard Fishman
Represented By: Samuel Joseph Rubin
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