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SECURITIES AND EXCHANGE COMMISSION v. KOZLOWSKI

United States District Court, Southern District of New York


February 6, 2003

SECURITIES AND EXCHANGE COMMISSION, PLAINTIFF,
v.
L. DENNIS KOZLOWSKI, MARK H. SWARTZ, AND MARK A. BELNICK, DEFENDANTS.

The opinion of the court was delivered by: Robert W. Sweet, United States District Judge.

MEMORANDUM OPINION

Defendant Mark A. Belnick ("Belnick") has moved pursuant to Rule 21, Fed.R. Civ. P., for severance and a separate trial of the claims against him by the plaintiff Securities and Exchange Commission ("SEC") from those asserted against his co-defendants L. Dennis Kozlowski ("I Kozlowski") and Mark H. Swartz ("Swartz").

In addition to this action filed on September 12, 2002, an indictment has been filed against Belnick as well as a separate indictment against Kozlowski and Swartz. The District Attorney has moved to intervene in this action for the purpose of seeking a stay of discovery pending the resolution of the criminal cases. Belnick has sought to have his criminal case tried prior to the case against Kozlowski and Swartz.

The interrelatedness of these Proceedings seems evident, and the motion for a stay has yet to be fully submitted. Until these matters are resolved it is premature to consider severance.

The motion by Belnick for severance at this time is denied without prejudice and with leave grantee to renew by request upon the submissions already made in light of the events occurring in the related criminal cases and the pending stay motion

It is so ordered.

20030206

© 1992-2003 VersusLaw Inc.



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