Letter opposing motion for default, re: Zhao
Re: In re Puda Coal Securities Inc., et al. Litigation (Case No. 1:11-CV-2598 (KBF)) Dear Judge Forrest: As counsel to Defendant Ming Zhao, we write in response to plaintiffs’ letter dated November 11, 2014 (Dkt. No. 450), requesting entry of a default judgment. For the reasons set forth below, the Court should deny plaintiffs’ request. First, our Friday, November 7, 2014 letter (Dkt. No. 446) complies with the Court’s order dated October 1, 2014 (Dkt. No. 430), which states that “[a]ny party seeking to contest the motion for default judgment or the materials supporting the damage amount shall file a notice stating the same.” Mr. Zhao does so in the letter. Second, Mr. Zhao contests the damages calculation by plaintiffs’ experts. With the Court’s permission, Mr. Zhao will file an initial expert report on November 13, 2014 challenging the plaintiffs’ damages calculation. In order to prepare the final report, however, Mr. Zhao needs discovery regarding plaintiffs’ experts and their opinions. Third, Mr. Zhao respectfully needs additional time to prepare his overall defense given that he recently had counsel enter an appearance. In sum, we respectfully ask the Court to deny the plaintiffs’ request for entry of a default judgment and to afford Mr. Zhao the opportunity to defend this case on the merits.