Dan Putnam’s $12 mill securities fraud case delayed into 2023
Following a joint-application filed on July 25th, Dan Putnam’s securities fraud case has been delayed well into 2023.
As stated in the filed joint-application, the requested reason for the delay pertains to the size of the case.
This is a complex case involving approximately 19,000 cryptocurrency transactions.
The Parties are still engaging in settlement discussions. The Parties seek to avoid the expense of further discovery while they seek a resolution to the case through settlement discussions.
Putnam’s seventy-eight year old father, Richard T. Putnam, is a relief defendant in the case.
On July 27th the court granted the application, pushing a scheduling conference back to June 7th, 2023.
Whether a settlement between the parties is reached in the meantime remains to be seen.
The court noted it is “not inclined to grant further extensions of the case schedule.”
Due to exclusivity agreement representations, we believe Putnam is also behind Govvi.