Magna update: SEC and Magna negotiating a settl

Magna update:

SEC and Magna negotiating a settlement and making progress apparently, with the court approving a joint request to extend the deadline to November 7th. Was Oct 24th.

"Hon. Loretta A. Preska
United States District Judge
Southern District of New York
500 Pearl Street
New York, NY 10007
Re: SEC v. Joshua Sason, et al., 19 Civ. 1459 (LAP)

Dear Judge Preska:

Plaintiff Securities and Exchange Commission (“SEC”) and Defendants Joshua Sason and Magna Management, LLC, Magna Equities II, LLC, and MG Partners, Ltd. (collectively, the “Magna Entities”) respectfully request that the Court adjourn the deadline for the submission of a joint pretrial order (“JPTO”) to November 7, 2023.

The SEC and Defendants Sason and the Magna Entities, with the assistance of Magistrate Judge Aaron, are continuing to discuss a potential consensual resolution to the remaining claims. The parties have made progress in these discussions but have not yet reached agreed-upon terms. Pursuant to the discussions with Judge Aaron, Defendants Sason and the Magna Entities are in the process of collecting and providing the SEC with additional information relevant to a potential settlement.

Accordingly, the parties respectfully request an adjournment of the JPTO deadline from October 24 to November 7, 2023.

This is the parties’ second request for an adjournment of the JPTO deadline. The Court previously granted the parties’ request to extend the JPTO deadline from October 10, 2023, to October 24, 2023. (Dkt. 200.)

Respectfully submitted,
/s/
Daniel Loss / David Zetlin-Jones
Senior Trial Counsel "