Court filing

Stipulated motion to temporarily stay case to consider settlement agreement — FTC v. Ponte (D.R.I.)

Summary

A stipulated motion to temporarily stay the case to consider a settlement agreement, Doc. 14, filed July 8, 2020, in Federal Trade Commission v. Ponte Investments, LLC and John C. Ponte, No. 1:20-cv-00177-JJM-PAS, in the U.S. District Court for the District of Rhode Island. The FTC and the Defendants jointly move for an order staying the case for 90 days, including any deadlines. The motion states that counsel for the FTC has negotiated a resolution with Defendants and that only a majority vote of the Commission can approve such agreements. It states that the FTC will advise the Court after the Commission votes and, if authorized, submit a proposed stipulated final order. It bears /s/ signatures for the FTC (Thomas J. Widor) and for the Defendants (Christopher M. Mulhearn).

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Filed July 8, 2020 in FTC v. Ponte; one of 15 filings from this case.

Record facts

Court	U.S. District Court for the District of Rhode Island
Filed	2020-07-08

Cite this document

“Stipulated motion to temporarily stay case to consider settlement agreement — FTC v. Ponte (D.R.I.).” U.S. District Court for the District of Rhode Island, No. 1:20-cv-00177-JJM-PAS, Doc. 14, filed 2020-07-08. Archived at Pandemic Darlings, https://pandemicdarlings.com/court-filings/ftc-v-ponte/2020-07-08-stipulated-motion-stay-settlement/, SHA-256 f0df64bea91243e1a55fa752aaa193926a3c790be40b575e896078beb0f59eda.

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Case 1:20-cv-00177-JJM-PAS Document14 Filed 07/08/20 Page 1 of 2 PagelD #:
237

UNITED STATES DISTRICT COURT
DISTRICT OF RHODE ISLAND

FEDERAL TRADE COMMISSION, CASE NO. 1:20-cv-00177-JJM-PAS
Plaintiff, STIPULATED MOTION TO
TEMPORARILY STAY THE
V. CASE TO CONSIDER
SETTLEMENT AGREEMENT

PONTE INVESTMENTS, LLC, a limited liability
company, also d/b/a SBA LOAN PROGRAM and
d/b/a SBA LOAN PROGRAM.com, and

JOHN C. PONTE, individually and as an officer
of PONTE INVESTMENTS, LLC,

Defendants.

Pursuant to Rule 7 of the Federal Rules of Civil Procedure, and Local Civil Rule 7, the
Federal Trade Commission (“FTC”) and Ponte Investments, LLC and John C. Ponte
(“Defendants”) stipulate and jointly move the Court for an Order staying this case for 90 days,
including staying any deadlines. Entering the stay will allow the FTC to seek Commission
approval for a negotiated resolution that will avoid further litigation in this matter.

Counsel for FTC has negotiated a resolution of this matter with Defendants. While FTC
counsel has authority to negotiate settlement agreements approved by Defendants, only a
majority vote of the Commission, which is an independent federal agency, can approve such
agreements. See 16 C.F.R. § 4.14. If the Commission approves the FTC counsel’s
recommendation, further litigation in this matter will not be necessary.

Because the FTC’s review and approval process can take several weeks, the FTC
respectfully requests that the Court stay the case for 90 days to allow adequate time for the

Commission to review and approve the final order. Once the Commission has voted on the

1
Case 1:20-cv-00177-JJM-PAS Document14 Filed 07/08/20 Page 2 of 2 PagelD #:

recommendation, the FTC will accordingly advise the Court and, if authorized, submit a

proposed stipulated final order and any other necessary filings.

Wherefore, based on the foregoing, the FTC and Defendants request that this Motion be

granted and the case stayed for 90 days. No argument or hearing is required. LR Cv 7(c).

AGREED, CONSENTED & STIPULATED TO:

Federal Trade Commission

By its Attorneys,

/s/ Thomas J. Widor

Thomas J. Widor (DC Bar #490184)
Sanya Shahrasbi (DC Bar #1671001)
Daniel Dwyer (DC Bar #286701)
Federal Trade Commission

600 Pennsylvania Ave., NW, CC-10232
Washington, D.C. 20580

Tel.: (202) 326-3039

Email: twidor@ftc.gov

Email: sshahrasbi@ftc.gov

Email: ddwyer@ftc.gov

Ponte Investments, LLC, d/b/a SBA Loan
Program, d/b/a SBA Loan Program.com; &
John C. Ponte

By their Attorney,

/s/ Christopher M. Mulhearn

Christopher M. Mulhearn (RI Bar #5188)
Law Office of Christopher M. Mulhearn, Inc.
1300 Division Road, Suite 304

West Warwick, RI 02893

Tel.: (401) 533-9330

Email: cmulhearn@mulhearnlawri.com

File and source

File: CASE_RID_1-20-cv-00177_FTC-v-Ponte_doc14_ORDER_2020-07-08.pdf
Size: 584,261 bytes
SHA-256: f0df64bea91243e1a55fa752aaa193926a3c790be40b575e896078beb0f59eda
Our copy: CASE_RID_1-20-cv-00177_FTC-v-Ponte_doc14_ORDER_2020-07-08.pdf
Original: No public link identified.