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Stockholders Suits | Florida Southern
Extension of Time
Plaintiff's MOTION for Extension of Time to File Renewed Motion for Final Default Judgment re 408 Order on Motion for Default Judgment,,,,,,,,,,,,, by R.M. Stark & Co., Inc., RMST Holding Company, Inc., Gary L. Stark. Responses due by 8/27/2026. (Attachments: # 1 Text of Proposed Order)(D'Amura, Richard)
Order on Motion for Default Judgment
PAPERLESS ORDER denying without prejudice 407 Plaintiffs' Combined Renewed Motion for Final Default Judgment (the "Motion"). Upon review of the Motion and the attached letter approval from FINRA (the "Approval") [ECF No. 407-1 pp. 4-5], the Court notes two references in the Approval that require further clarification and/or supplementation. First, the Approval states that "the Federal Court... determined Mr. Stark the lawful owner of the parent" [ECF No. 407-1 p. 4]. The Court did not make that finding in the Summary Judgment Order 351 , the Bench Trial Order 399 , or the Order Amending Order Granting Default Judgment 404 . The Summary Judgment Order and Bench Trial Order dealt with loans issued by Byline Bank 351 399 , while the Order Amending made clear that Plaintiffs could not obtain the shares of either RMST or RM Stark without first seeking and ultimately obtaining the approval of FINRA in line with FINRA Rule 1017 404 . Second, the Approval states that, "[p]er an impending Court order, the Firm represented Mr. Stark will foreclose on [RMST's] shares and become the sole owner" [ECF No. 407-1 p. 4 (emphasis added)]. To the extent that such italicized reference implies judicial authorization to foreclose on RMST's shares, the Court provided no such permission in the relevant Orders 351 399 404 . Rather, the Court's Order Amending 404 states that Gary Stark "may not indirectly or directly acquire or transfer ownership or control of RM Stark, including by taking ownership or control of RMST, without first seeking and ultimately obtaining FINRA's approval, consistent with FINRA Rule 1017" [ECF No. 404 pp. 6-7]. Based on these issues as gleaned from the Court's review, Plaintiffs' Motion is denied without prejudice. Any subsequent motion is due on or before August 19, 2026, and must attach all materials and communications sent by Plaintiffs to FINRA regarding the Approval granted on August 10, 2026, and any other information provided to FINRA or sent by FINRA following this Order. Separately, as to the other Defendants against whom Plaintiffs seek final default judgment, the Court observes that the Motion contains no legal analysis or discussion of the relevant allegations from the operative Third Amended Complaint 117 . The Court will not do Plaintiffs' work for them or infer conclusions not presented in the motion itself. Accordingly, any renewed motion for default judgment must also include substantive legal analysis as to all claims and all defaulted Defendants, referencing the allegations in the Third Amended Complaint and any other materials supporting entry of default final judgment under the facts and the law. Failure to file a compliant, renewed motion for default final judgment as to any Defendant within the specified time will result in dismissal as to that Defendant. To the extent the deadline of August 19, 2026, is not feasible under the circumstances, Plaintiffs may file an appropriate motion for extension, no later than August 18, 2026, specifying the basis for the continuance sought. Signed by Judge Aileen M. Cannon on 8/11/2026. (nct)
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