Catherine E. Bateman

The respondents Miller, Azeff, and Bobrow brought non-suit motions to dismiss certain allegations of insider trading and tipping at the close of Staff's case.

The Commission dismissed Miller's motions regarding Masonite and Dynatec, but granted his motion to strike an allegation regarding Dynatec as barred by the six-year limitation period.

Bobrow's motion regarding MDSI was granted as Staff failed to make out a prima facie case.

Azeff's motions regarding Dynatec and MDSI were dismissed, as Staff's evidence gave rise to reasonable inferences supporting the allegations.

The moving parties sought an adjournment of a scheduled merits hearing regarding insider trading and tipping allegations, arguing that their expert consultant had lost approximately 600 hours of work product.

Staff opposed the adjournment and brought a cross-motion to sever the matter against one respondent if the adjournment was granted.

The Commission dismissed the adjournment motion, finding that the expert consultant was sufficiently prepared to assist counsel with cross-examinations and that the matter, which had been outstanding for four years, needed to proceed in a timely manner.

The cross-motion for severance was also dismissed.