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S.E.C. v. GELLAS

No. 91 CIV. 6346(WCC).

1 F.Supp.2d 333 (1998)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. Stephen D. GELLAS, Dierdre C. Steinhaus and Robert E. Ainbinder, Defendants.

United States District Court, S.D. New York.

April 17, 1998.

Attorney(s) appearing for the Case

Securities and Exchange Commission, Washington, DC (James A. Brigagliano, Tracy M. McGowan, of counsel), Securities and Exchange Commission, New York, NY (Caren N. Pennington, of counsel), for Plaintiff.

Wolman, Babitt & King, L.L.P., of counsel to Dominick J. Porto, Robert E. Ainbinder, New York, NY (Derek Wolman, of counsel), for Defendants.

OPINION AND ORDER

CONNER, Senior District Judge.

Before the Court is defendant Robert Ainbinder's motion to vacate a default judgment entered against him by plaintiff Securities and Exchange Commission (the "SEC"). For the reasons discussed below, the motion is denied.

BACKGROUND

On September 20, 1991, the SEC commenced the above-captioned action against Ainbinder and his co-defendants. In its complaint, the SEC alleged, inter...

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