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Suzanne D. Jackson v. William Fischer.

November 5, 2012

SUZANNE D. JACKSON, PLAINTIFF,
v.
WILLIAM FISCHER., ET AL., DEFENDANTS.



The opinion of the court was delivered by: Jacqueline Scott Corley United States Magistrate Judge

United States District Court Northern District of California

ORDER RE: PLAINTIFF'S MOTION FOR DEFAULT JUDGMENT (Dkt. No. 148)

In this civil action, Plaintiff Suzanne D. Jackson, moves for Entry of Default Judgment 19 against Defendant Upper Orbit, LLC ("Defendant"), seeking $13,516,968 in damages. This 20 motion was referred to the undersigned Judge for a report and recommendation. Having 21 reviewed the papers submitted in support of Plaintiff's request for default judgment, the Court 22 orders Plaintiff to submit additional briefing in support of its motion for default judgment. 23

BACKGROUND

Defendant Upper Orbit is a Minnesota limited liability company. (Second Amended Complaint ("SAC"), Dkt. No. 113, ¶ 13.) Its sole member is co-defendant William Fischer. 26

(Id.) Defendant is one of 20 business entities, executives, and investors sued for 27 misrepresentation and breach of fiduciary duty relating to a series of financial transactions. 28

(Id. ¶¶ 2-21, 72-150.) After Defendant failed to file a responsive pleading to the SAC, Default

was entered against Defendant on September 24, 2012. (Dkt. No. 142 at 1.) The suit against 2

Defendant Fischer, President of Upper Orbit, has been stayed pursuant to a bankruptcy stay in 3 place for him. 11 U.S.C. § 362; (Dkt. No. 124 at 1.) 4

54-71.) First, on February 18, 2008, Plaintiff loaned Defendant $1,000,000 at an 8% interest 6 rate in exchange for 40% of Defendant's profits from its trades, loans, and investments. (Id. ¶ 7

December 31, 2009." (Dkt. No. 148 at 4.) Note 1 indicates that the Defendant "agree[d] to 9 make quarterly interest payments" of $20,000 and that "[i]f any installment under this Note is 10 not paid when due and remains unpaid... the principal and accrued interest thereon shall at 11 once become due and payable at a rate of Five (5%) percent per month thereafter." (Dkt. No. 12

at the rate of 5% per month would accrue-a term proposed and by [sic] Upper Orbit to 14 assure the plaintiff that it would not default." (Dkt. No. 148 at 4.)Note 1 was signed by Mr. 15

Fisher as Defendant's President. (Dkt. No. 148-2 at 4.) Plaintiff "agreed to the proposal" 16 because of Mr. Fischer's "detailed" and "false" representations of his investing experiencing. 17

(SAC ΒΆ 54.) Second, on April 25, 2008, Plaintiff loaned Defendant an additional $140,000 at 18 an 8% interest rate. (Dkt. No. 148 at 4.) The loan ...


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