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Gold/Mining/Energy : USSE - What a scam! -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (119)	2/4/2010 1:53:08 PM
From: scion	Respond to of 226

10/05/2009 14 Joint MOTION to Stay by Securities and Exchange Commission (Attachments: # 1 Proposed Order)(Rue, Alex) (Entered: 10/05/2009) Doc 14 PDF file viewer.zoho.com JOINT MOTION TO STAY The plaintiff Securities and Exchange Commission (“Commission”), joined by the defendants, U. S. Sustainable Energy Corp. and John Rivera, and relief defendant, Alice Price, jointly move the Court to stay the remaining deadlines in this case for 120 days in order to allow for time for parties to prepare a settlement in this case and have it reviewed and approved by the Securities and Exchange Commission. In support of their motion, the parties show the Court that: 1. Counsel for the parties have reached a tentative settlement in this case. 2. Completion of the proposed settlement requires the defendants and relief defendant to provide accurate sworn financial statements and signed settlement documents to the plaintiff. The defendants are assembling materials which are necessary to support their sworn statements and which counsel for the Commission must review and analyze prior to completion of the tentative settlement and its submission to the Commission for approval. 3. In order to verify the financial statements, the plaintiff must obtain bank records to verify the financial statements and brokerage records to determine the amounts of stock the defendants and relief defendant sold. 4. Counsel for the plaintiff will immediately notify the Court if the tentative settlement falls apart or if the defendants and relief defendant do not provide the required documentation within thirty days from the date of the Order approving the requested stay so that discovery and the other deadlines in this case may be resumed. 5. The Commission staff in this case do not have authority to approve settlements, but must, instead, prepare a memorandum recommending the settlement to the Commission. That process requires review by supervisors in the Atlanta office of the Commission and review and comment by Enforcement staff in Washington before the settlement can be calendared for Commission approval. 6. The parties have attached a proposed order that stays all proceedings in this case for a period of 120 days. WHEREFORE, the parties ask that their joint motion be granted and that the Court issue the Order attached to this motion staying all proceedings in this case for 120 days. October 5, 2009 Respectfully submitted, /S/ Alex Rue Alex Rue Georgia State Bar No. 618950 Senior Trial Counsel Atlanta Regional Office Securities and Exchange Commission Suite 500 3475 Lenox Road, NE Atlanta, GA 30326 404 842-7616 Email: Ruea@sec.gov John C. Henegan, Esq. Benjamin McRae Watson, Esq. BUTLER, SNOW, O'MARA, STEVENS & CANNADA Regions Plaza 210 East Capitol Street, Suite 1700 Jackson, MS 39201 Telephone: (601) 948-5711 Fax: (601) 985-4500 john.henegan@butlersnow.com ben.watson@butlersnow.com Thomas O. Gorman, Esq. William P. McGrath, Esq. PORTER, WRIGHT, MORRIS & ARTHUR, LLP 1919 Pennsylvania Avenue NW, Suite 500 Washington, DC 20006-3434 Telephone: (202) 778-3000 Fax: (202) 778-3063 tgorman@porterwright.com wmcgrath@porterwright.com

To: scion who wrote (119)	2/5/2010 2:30:52 AM
From: 1Coffeehound	Respond to of 226

Thanks for the update. My guess is the final settlement will amount to a slap on the wrist for Rivera. That's usually the case with these SEC actions. The con men make millions with their scams, pay back a fraction when they're caught, and promise tongue in cheek with a smile on their lips to never commit fraud in the markets again.

To: scion who wrote (119)	2/5/2010 8:39:33 AM
From: scion	Read Replies (2) \| Respond to of 226

Another Pacer update 04 Feb 10 SEC v. U. S. Sustainable Energy Corp et al Date Filed # Docket Text 02/04/2010 Set/Reset Deadlines: ( Discovery due by 6/15/2010, Designate Experts Plaintiff Deadline due by 3/15/2010, Designate Experts for Defendant Deadline due by 4/15/2010, Motions due by 6/1/2010 ), Set/Reset Hearings:( Jury Trial set for a three week calendar beginning 9/27/2010 before Honorable David C. Bramlette III, Pretrial Conference set for 9/7-9/2010 before Magistrate Judge John M. Roper ) (Nicaud, Jenny) (Entered: 02/04/2010) 02/04/2010 TEXT ORDER ONLY granting 15 Motion. The Court finds upon the parties representations that this matter can not be resolved at this time by settlement. Accordingly,the stay in this matter should be lifted. The trial will be reset to a three week calendar beginning September 27,2010. The pre-trial conference will be held September 7-9,2010. the discovery deadline is extended to June 1,2010 and the motion deadline is extended to June 15,2010.Plaintiff's expert designation deadline is extend to March 15,2010. Defendant's expert designation deadline is extended to April 15,2010. No further written order shall be issued by this Court Signed by Magistrate Judge John M. Roper on February 4,2010 (Nicaud, Jenny) (Entered: 02/04/2010) 02/04/2010 15 MOTION to Lift stay and resume discovery re Order on Motion to Stay,, Case Stayed by Securities and Exchange Commission (Rue, Alex) (Entered: 02/04/2010) Defendant John H. Rivera Defendant Alice M. Price ecf.mssd.uscourts.gov