UNITED STATES DISTRICT COURT EASTERN DISTRICT OF CALIFORNIA
February 28, 2011
SACRAMENTO SECURITIES AND EXCHANGE COMMISSION, PLAINTIFF
ANTHONY VASSALLO, ET AL, VECHERY AS TRUSTEES FOR THE
VECHERY FAMILY TRUST DEFENDANTS.
The opinion of the court was delivered by: Judge: Hon. Lawrence K. Karlton
Time: 10:00 a.m. Location: Courtroom 4, 15th Floor
ORDER GRANTING RECEIVER'S MOTION TO APPROVE SETTLEMENT WITH LINDA AND HARVEY AND/OR INDIVIDUALLY
The motion of Receiver Stephen E. Anderson ("Receiver") to Approve Settlement with Linda And Harvey Vechery as Trustees for The Vechery Family Trust and/or individually came 22 on regularly for hearing in Courtroom 4 of the above-entitled Court on February 28, 2011, at 23 10:00 a.m., the Honorable Lawrence K. Karlton presiding, with counsel appearing on behalf of Receiver. The Court having considered the papers submitted in support of such motion, and the 25 arguments of counsel and for good cause shown,
THE COURT FINDS AND ORDERS AS FOLLOWS: Receiver's Motion to Approve the Settlement with Linda And Harvey Vechery as Trustees for The Vechery Family Trust and/or individually IS HEREBY GRANTED.
[PROPOSED] ORDER GRANTING MOTION TO APPROVE SETTLEMENT WITH LINDA AND HARVEY VECHERY
Adequate and proper notice of this motion was provided to Defendant Equity Investment Management and Trading, Inc. ("EIMT") investors and other interested parties. The proposed 3 settlement with Linda And Harvey Vechery as Trustees for The Vechery Family Trust and/or 4 individually is fair and equitable to the defrauded EIMT investors, and will provide substantial 5 immediate value while minimizing expenses to the receivership estate. The proposed settlement 6 is particularly reasonable given that the Vecherys produced to Receiver information and 7 documents that raise a number of factual issues, the resolution of which would likely require a 8 costly evidentiary hearing. Accordingly, the settlement is hereby approved, and Receiver is 9 authorized to take all actions necessary to complete the settlement. IT IS SO ORDERED.
Dated: March 1, 2011 UPREE [PROPOSED] ORDER GRANTING MOTION TO APPROVE SETTLEMENT WITH LINDA AND HARVEY VECHERY
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