01a0438p.06

8QLWHG6WDWHVY7DOOH\ 1R
$V WKH JRYHUQPHQW SRLQWV RXW KRZHYHU WKH 'LFNHUVRQ
PDMRULW\ H[SUHVVO\ LQFRUSRUDWHG H[LVWLQJ GHFLVLRQV OLNH
4XDUOHVLQWRWKH³FRQVWLWXWLRQDO´ULJKWWRD0LUDQGDZDUQLQJ
LWHOXFLGDWHGLQ'LFNHUVRQ6&WDW0RUHRYHUWKH
6XSUHPH&RXUWKDVUHFHQWO\UHPLQGHGXVWKDWORZHUFRXUWV
VKRXOGQRWRYHUUXOHLWVGHFLVLRQVHYHQLIODWHURSLQLRQVFDVW
GRXEWRQVXFKSUHFHGHQW6HH$JRVWLQLY)HOWRQ86
5DWKHUZHDUHWROHDYHWRWKH&RXUWZKHWKHU
WRRYHUUXOHLWVSULRUGHFLVLRQV7KHUHIRUH4XDUOHVUHPDLQV
JRRGODZDQGDVDSSOLHGWRWKHIDFWVRIWKLVFDVHH[FXVHVWKH
LQWHUURJDWLRQRIWKHGHIHQGDQW
)RU WKH IRUJRLQJ UHDVRQV ZH UHYHUVH WKH GLVWULFW FRXUW¶V
GHFLVLRQWRJUDQWWKHVXSSUHVVLRQPRWLRQDQGUHPDQGWKHFDVH
IRUIXUWKHUSURFHHGLQJV

5(&200(1'(' )25 )8//7(;7 38%/,&$7,21
3XUVXDQW WR 6L[WK &LUFXLW 5XOH
(/(&7521,& &,7$7,21 )(' $SS 3 WK &LU
)LOH 1DPH DS
81,7('67$7(6&28572)$33($/6
)257+(6,;7+&,5&8,7
BBBBBBBBBBBBBBBBB
81,7(' 67$7(6 2) $0(5,&$
3ODLQWLII$SSHOODQW
Y
&857,6 7$//(<
'HIHQGDQW$SSHOOHH
;!

1
1R
$SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW
IRUWKH:HVWHUQ'LVWULFWRI7HQQHVVHHDW-DFNVRQ
1R²-DPHV'7RGG&KLHI'LVWULFW-XGJH
$UJXHG2FWREHU
'HFLGHGDQG)LOHG'HFHPEHU
%HIRUH.(,7+.(11('<DQG%$7&+(/'(5&LUFXLW
-XGJHV
BBBBBBBBBBBBBBBBB
&2816(/
$5*8(' -RKQ 7 )RZONHV $66,67$17 81,7('
67$7(6$77251(<0HPSKLV7HQQHVVHHIRU$SSHOODQW
'DQQ\ 5 (OOLV +$5'(( 0$57,1 -$<1(6 ,9<
-DFNVRQ 7HQQHVVHH IRU $SSHOOHH 21 %5,() -RKQ 7
)RZONHV $66,67$17 81,7(' 67$7(6 $77251(<
0HPSKLV7HQQHVVHHIRU$SSHOODQW*:LOOLDP+\PHUV,,,

-- 1 of 4 --

8QLWHG6WDWHVY7DOOH\ 1R
+$5'((0$57,1-$<1(6 ,9<-DFNVRQ7HQQHVVHH
IRU$SSHOOHH
BBBBBBBBBBBBBBBBB
23,1,21
BBBBBBBBBBBBBBBBB
.(11('<&LUFXLW-XGJH7KH8QLWHG6WDWHVDSSHDOVWKH
'LVWULFW &RXUW¶V RUGHU VXSSUHVVLQJ GHIHQGDQW¶V VWDWHPHQW
REWDLQHG EHIRUH KH ZDV JLYHQ ZDUQLQJV SHU 0LUDQGD Y
$UL]RQD 86 /RFDO VKHULIIV VRXJKW WR
H[HFXWHDIHGHUDODUUHVWZDUUDQWRQRQH9LGDOH&RWKUDQLQ
ZKRVHKRPH7DOOH\ZDVDJXHVW7KHJRYHUQPHQWFRQFHGHV
WKDWQR0LUDQGDZDUQLQJKDGEHHQJLYHQEXWFRQWHQGVWKDWWKH
TXHVWLRQDVNHG³:KHUHLVWKHJXQ"´ZDVSHUPLWWHGXQGHU
WKH SXEOLF SROLF\ VDIHW\ H[FHSWLRQ VHW RXW LQ 1HZ <RUN Y
4XDUOHV86 7KHJRYHUQPHQWQRZDSSHDOV
ERWKWKHRUGHUVXSSUHVVLQJWKHVWDWHPHQWDQGWKHGHQLDORILWV
PRWLRQIRUUHFRQVLGHUDWLRQ
:HUHYLHZILQGLQJVRIIDFWUHJDUGLQJVXSSUHVVLRQPRWLRQV
IRUFOHDUHUURUDQGFRQFOXVLRQVRIODZGHQRYR8QLWHG6WDWHV
Y5RKULJ)G WK&LU $SSO\LQJWKH
GHQRYRVWDQGDUGWRWKHOHJDOTXHVWLRQVSRVHGE\WKLVDSSHDO
ZHILQGWKDWWKHGHIHQGDQW7DOOH\ODFNHGVWDQGLQJWRREMHFWWR
WKH HQWU\ LQWR WKH DSDUWPHQW EHFDXVH KH KDG QR SULYDF\
H[SHFWDWLRQ0RUHRYHUWKHRIILFHU¶VHQWU\WKURXJKZKLFKKH
VDZ WKH PDJD]LQH RI D VHPLDXWRPDWLF ZHDSRQ DQG
DPPXQLWLRQ ZKLFKSURPSWHGKLVTXHVWLRQ ZDVSHUPLWWHG
XQGHU WKH 4XDUOHV H[FHSWLRQ 7KHUHIRUH ZH UHYHUVH DQG
UHPDQG
,)DFWXDO%DFNJURXQG
7KHUH LV QR GLVSXWH DV WR WKH IDFWV XQGHUO\LQJ WKH
GHIHQGDQW¶V DUUHVW %HFDXVH WKH FRQWH[W RI WKH DUUHVW LV
LPSRUWDQWLQGHWHUPLQLQJWKHOHJDOLW\RIWKHRIILFHUV¶DFWLRQV
ZHUHYLHZWKHIDFWXDOUHFRUGDWVRPHOHQJWK
1R 8QLWHG6WDWHVY7DOOH\
SUHYLRXVO\VKRXWHGIRUHYHU\RQHWRFRPHRXW:KHQ2IILFHU
5XVKDVNHGWKHVHFRQGGHWDLQHGLQGLYLGXDO7DOOH\ZKHWKHU
DQ\RWKHUVUHPDLQHGLQWKHKRXVH7DOOH\¶VUHVSRQVHZDVWKDW
KLVJLUOIULHQGZDVLQVLGHWKHKRXVH7KXV2IILFHU5XVKZDV
XQGHUVWDQGDEO\VXUSULVHGDQGWKUHDWHQHGE\WKHDSSHDUDQFHRI
WKH WZR VKDGRZ\ ILJXUHV 7KLV SRWHQWLDO WKUHDW MXVWLILHG
5XVK¶V HQWU\ LQWR WKH UHVLGHQFH DQG WKURXJK WKDW HQWU\
2IILFHU5XVKGLVFRYHUHGWKHPDJD]LQHDQGDPPXQLWLRQ2QFH
2IILFHU5XVKKDGVHHQWKHPDJD]LQHKHKDGUHDVRQWREHOLHYH
DJXQZDVQHDUE\DQGZDVMXVWLILHGXQGHU4XDUOHVLQDVNLQJ
KLVTXHVWLRQSULRUWRDGPLQLVWHULQJD0LUDQGDZDUQLQJ7KH
GLVWULFWFRXUWFRQFOXGHGWKDW5XVKIDLOHGWRH[SODLQZK\LWZDV
QHFHVVDU\WRVWHSLQ7KHGLVWULFWFRXUWFRQFOXGHGWKDWVLQFH
2IILFHU5XVKFRXOGLQVWHDGKDYHVWHSSHGRXWUDWKHUWKDQLQ
DQGKDGKHGRQHVRKHZRXOGQRWKDYHVHHQWKHPDJD]LQHDQG
DPPXQLWLRQ WKH GLVFRYHU\ RI WKH JXQ FRXOG QRW EH
FRQVLGHUHGLQGHWHUPLQLQJZKHWKHUWKHVZHHSZDVMXVWLILHG
2IILFHU5XVKKDGKLVJXQGUDZQZKHQKHRUGHUHGWKHVHWZR
PHQWRFRPHRXW+DGKHVWHSSHGRXWDQGWKH\KDGQRWFRPH
RXWKHZRXOGKDYHKDGWRUHHQWHULQRUGHUWRVHFXUHWKHP
+HFRXOGQRWKDYHNQRZQZKHWKHURUQRWWKH\ZHUHDUPHG,W
ZDV OLJKW RXWVLGH DQG GDUN LQ WKH KDOO ZKLFK ZRXOG KDYH
PDGHLWGLIILFXOWIRU5XVKWRVHHDQ\WKLQJLQVLGHWKHUHVLGHQFH
7KHUHIRUH EDVHG RQ DQ REMHFWLYH VWDQGDUG KH SXUVXHG WKH
PRVWUHDVRQDEOHFRXUVH
'HIHQGDQWV XUJH XV WR RYHUUXOH 4XDUOHV EDVHG RQ WKH
6XSUHPH&RXUW¶VGHFLVLRQLQDUHFHQW)LIWK$PHQGPHQWFDVH
'LFNHUVRQ Y 8QLWHG 6WDWHV 6&W ZKLFK
VHHPVWRFRQWUDGLFWODQJXDJHLQ4XDUOHV,Q'LFNHUVRQWKH
&RXUW KHOG WKDW WKH ULJKW WR D 0LUDQGD ZDUQLQJ LV
FRQVWLWXWLRQDOO\ EDVHG UDWKHU WKDQ ³SURSK\ODFWLF´ 7KH
4XDUOHVFRXUWVHHPHGWRMXVWLI\WKHSXEOLFVDIHW\H[FHSWLRQWR
0LUDQGD E\ GLVWLQJXLVKLQJ SURSK\ODFWLF DQG FRQVWLWXWLRQDO
ULJKWV 6HH 4XDUOHV 86 DW Q -XVWLFH 6FDOLD
ZULWLQJ LQ GLVVHQW LQ 'LFNHUVRQ VXJJHVWHG WKDW PDNLQJ D
0LUDQGD ZDUQLQJ D FRQVWLWXWLRQDO ULJKW UDWKHU WKDQ D
SURSK\OD[LV ZRXOG XQGHUPLQH WKH &RXUW¶V GHFLVLRQ LQ
4XDUOHV'LFNHUVRQ6&WDW

-- 2 of 4 --

8QLWHG6WDWHVY7DOOH\ 1R
,Q UHVSRQVH WR D PRWLRQ E\ 9LGDOH &RWKUDQ WKH GLVWULFW MXGJH
VXSSUHVVHG WKH GUXJV DQG RWKHU HYLGHQFH REWDLQHG GXULQJ DQG DIWHU WKH
³SURWHFWLYH VZHHS´ FRQGXFWHG E\ WKH RIILFHUV 7KRXJK &RWKUDQ LV QR
ORQJHU D SDUW\ WR WKLV FDVH WKH GUXJV ZLOO XQGRXEWHGO\ EH VRXJKW WR EH
LQWURGXFHG DJDLQVW 7DOOH\ LQGHHG KH WRRN UHVSRQVLELOLW\ IRU WKH GUXJV
:KLOH 7DOOH\ PDGH QR PRWLRQ WR VXSSUHVV WKH GUXJV WKH RUGHU LV
FDSWLRQHG ZLWK ERWK GHIHQGDQWV¶ QDPHV 7KH GLVWULFW FRXUW¶V RUGHU ZDV
DPELJXRXV DV WR ZKHWKHU WKH HYLGHQFH ZDV VXSSUHVVHG DV WR ERWK
GHIHQGDQWV RU PHUHO\ WR &RWKUDQ %HFDXVH 7DOOH\ KDG QR H[SHFWDWLRQ RI
SULYDF\ DQG 2IILFHU 5XVK¶V HQWU\ ZDV MXVWLILHG XQGHU %XLH WKH GUXJ
HYLGHQFH LV DGPLVVLEOH DJDLQVW 7DOOH\
7KH 6XSUHPH &RXUW KDV KHOG WKDW ³D TXLFN DQG
OLPLWHG VHDUFK RI SUHPLVHV LQFLGHQW WR DQ DUUHVW DQG
FRQGXFWHG WR SURWHFW WKH VDIHW\ RI SROLFH RIILFHUV´ LV
SHUPLVVLEOHLIDQRIILFHUKDVD³UHDVRQDEOHEHOLHI´EDVHGRQ
³VSHFLILFDQGDUWLFXODEOHIDFWV´WRJHWKHUZLWK³LQIHUHQFHVIURP
WKRVH IDFWV´ ZKLFK UHDVRQDEO\ ZDUUDQWV WKH RIILFHU LQ
EHOLHYLQJWKDWWKHDUHDWREHVZHSWKDUERUVDQLQGLYLGXDORU
LQGLYLGXDOV³SRVLQJDGDQJHUWRWKHRIILFHURURWKHUV´
86DW
,QWKLVFDVHWKHRIILFHUVKHDUGDFRQVLGHUDEOHDPRXQWRI
QRLVHSULRUWR2IILFHU5XVK¶VHQWU\7KHLQGLYLGXDOVLQWKH
KRXVHGLGQRWRSHQWKHGRRUIRUQHDUO\WKLUW\PLQXWHVDIWHUWKH
LQLWLDONQRFNE\WKHRIILFHUV7KHRIILFHUVZHUHUHDVRQDEO\
FRQFHUQHGWKDWRWKHULQGLYLGXDOVKDGFRQFHDOHGWKHPVHOYHVLQ
WKHKRXVHLQDSRVLWLRQWRDPEXVKWKHRIILFHUV7KLVFRQFHUQ
LVGHPRQVWUDWHGE\WKHRIILFHUV¶GHFLVLRQWRGRQEXOOHWSURRI
YHVWV $W QR SRLQW GXULQJ WKH FKDOOHQJHG VZHHS GLG WKH
RIILFHUVUHPRYHWKHLUYHVWVVXJJHVWLQJWKH\GLGQRWIHHOWUXO\
VDIH
:H FDQQRW DJUHH ZLWK WKH GLVWULFW FRXUW WKDW FRQFHUQ IRU
VDIHW\ GLG QRW MXVWLI\ 2IILFHU 5XVK VWHSSLQJ LQWR WKH KRPH
XSRQ VHHLQJ WKH WZR VKDGRZ\ ILJXUHV LQ WKH UHDU RI WKH
KDOOZD\2IILFHU5XVKZKRZDVVWDQGLQJLQWKHGRRUZD\
VWHSSHG LQ WR SHUPLW WKHP WR SDVV 7KH RIILFHU KDG DQ
DUWLFXODEOH IDFW DW KLV GLVSRVDO LQGLFDWLQJ WKHVH LQGLYLGXDOV
SRVHG D VDIHW\ ULVN QDPHO\ WKDW KH KDG DOUHDG\ EHHQ
PLVLQIRUPHG DERXW WKHLU SUHVHQFH 2IILFHU 5XVK KDG
1R 8QLWHG6WDWHVY7DOOH\
2Q$XJXVWILYHRIILFHUVRIWKH6KHOE\&RXQW\
6KHULII¶VGHSDUWPHQWVRXJKWWRH[HFXWHDIHGHUDODUUHVWZDUUDQW
IRURQH9LGDOH&RWKUDQDWKLVUHVLGHQFHDW:DWHU*URYH
LQ0HPSKLV7HQQHVVHH7ZRRIILFHUVZHQWWRWKHUHDUGRRU
ZKLOH WZR VWD\HG LQ IURQW 7KH ILIWK RIILFHU DW VRPH SRLQW
EHIRUH WKH HQWU\ OHIW IRU WKH PDQDJHU¶V RIILFH WR JHW
LQIRUPDWLRQDERXWZKRPLJKWEHLQWKHDSDUWPHQWDQGGLGQRW
UHWXUQ XQWLO DIWHU WKH VWDWHPHQW ZDV PDGH 7KH RIILFHUV
NQRFNHGRQWKHIURQWGRRUDQG VDZ DQLQGLYLGXDOORRNRXW
IURPRQHRIWKHZLQGRZV2IILFHU$QGUHZ5XVKVKRZHGKLV
EDGJH LGHQWLILHG KLPVHOI DQG FDOOHG IRU WKH LQGLYLGXDO WR
FRPHWRWKHGRRU7KHRIILFHUVKHDUGDORXGFRPPRWLRQDQG
WKH VRXQGV RI VHYHUDO LQGLYLGXDOV UXQQLQJ WKURXJKRXW WKH
DSDUWPHQWDQGXSDQGGRZQWKHVWDLUV&RQFHUQHGIRUWKHLU
VDIHW\WKHRIILFHUVGRQQHGEXOOHWSURRIYHVWV$IWHUNQRFNLQJ
RQWKHGRRUDJDLQ2IILFHU5XVKWXUQHGRIIHOHFWULFLW\WRWKH
KRPH &RWKUDQ RSHQHG WKH GRRU DQG REH\HG WKH RIILFHUV
UHTXHVW WKDW KH OLH GRZQ RQ WKH JURXQG $SSURDFKLQJ
&RWKUDQ5XVKVDZPRYHPHQWEHKLQGKLPLQWKHUHVLGHQFH
5XVKVHFXUHGDVHFRQGLQGLYLGXDO 7DOOH\ DQGDVNHGKLPLI
DQ\RQHUHPDLQHGLQWKHUHVLGHQFH7DOOH\LQGLFDWHGWKDWKLV
JLUOIULHQGZDVVWLOOLQVLGH6XEVHTXHQWO\5XVKVDZDIHPDOH
ZKRPKHDOVRVHFXUHG$WWKDWPRPHQW2IILFHU5XVKZKR
ZDVVWDQGLQJLQWKHIURQWGRRUZD\VDZWZRKHDGV³SRSXS´
DWWKHHQGRIWKHKDOOZD\7KHRIILFHUVWHSSHGLQVLGHWKHIURQW
GRRUDQGRUGHUHGWKHLQGLYLGXDOVWRFRPHIRUZDUG
$VKHVWHSSHGLQWRWKHDSDUWPHQW2IILFHU5XVKEXPSHG
LQWR D WUDVK FDQ DQG VDZ EXOOHWV DQG D PDJD]LQH IRU D
VHPLDXWRPDWLFSLVWROLQSODLQYLHZLQVLGHWKHFDQ ZKLFKZDV
EHWZHHQVL[DQGWZHOYHIHHWLQVLGHWKHUHVLGHQFH +HQRWLILHG
RWKHURIILFHUVRIWKHSUHVHQFHRIWKHPDJD]LQHDQGEXOOHWVDQG
WKHSRVVLEOHSUHVHQFHRIDILUHDUPDQGWKHQRSHQHGWKHEDFN
GRRUWRWKHKRXVHWRHQDEOHRQHRIWKHWZRRIILFHUVZDLWLQJ
WKHUH WR SDVV WKURXJK WKH KRXVH WR DVVLVW WKH VLQJOH RIILFHU
UHPDLQLQJRQWKHSRUFKLQVHFXULQJWKHILYHLQGLYLGXDOV
2IILFHU5XVKWKHQUHWXUQHGWRWKHIURQWRIWKHKRXVHDQG
DVNHGWKHVHFXUHGLQGLYLGXDOV:KHUHLVWKHJXQ"'HIHQGDQW
VDLGWKHJXQFRXOGEHIRXQGLQWKHYDFXXPFOHDQHUZKHUHLW

-- 3 of 4 --

8QLWHG6WDWHVY7DOOH\ 1R
ZDVODWHUGLVFRYHUHG7ZRRIILFHUVEHJDQDSURWHFWLYHVZHHS
RIWKHVHFRQGIORRUORRNLQJLQDOOWKHURRPVDQGFKHFNLQJWKH
FORVHWV'XULQJWKHVZHHS2IILFHU5XVKUHFRQQHFWHGSRZHU
WRWKHUHVLGHQFH7KHVZHHSUHYHDOHGQRRWKHULQGLYLGXDOV
DQGLQLWLDOO\QRFRQWUDEDQG$V2IILFHU5XVKZDVSDVVLQJE\
WKH NLWFKHQ RQ KLV ZD\ WR H[LW WKH KRXVH KH VPHOOHG
VRPHWKLQJEXUQLQJLQWKHNLWFKHQ+HORRNHGLQWKHNLWFKHQ
DUHDDQGVDZWKDWDWRZHOKDGEHJXQWREXUQRQRQHRIWKH
HOHFWULFEXUQHUVRQWKHVWRYH5XVKUHPRYHGWKHWRZHODQG
WKHQ VDZ VHYHUDO LWHPV RI GUXJ SDUDSKHUQDOLD LQFOXGLQJ D
ZKLWH VXEVWDQFH ODWHU LGHQWLILHG DV FRFDLQH EDVH
6XEVHTXHQWO\&RWKUDQFRQVHQWHGWRDVHDUFKDQGGUXJGRJV
ZHUHEURXJKWWRWKHKRXVH
,,$QDO\VLV
7KHGLVWULFWFRXUWJUDQWHG7DOOH\¶VPRWLRQWRH[FOXGHKLV
VWDWHPHQWFRQFHUQLQJWKHORFDWLRQRIWKHJXQ$SSDW
,WLVXQGLVSXWHGWKDW7DOOH\KDGUHFHLYHGQR0LUDQGDZDUQLQJ
ZKHQKHDQGWKHRWKHUVZHUHDVNHGWKHORFDWLRQRIWKHJXQ
:KLOHWKHGLVWULFWFRXUWQRWHGWKHUHZDVQRHYLGHQFHWKDWWKLV
³VWDWHPHQW>@ZDVDQ\WKLQJRWKHUWKDQYROXQWDU\´$SSDW
LWIRXQGWKDWWKHTXHVWLRQFRQVWLWXWHGDYLRODWLRQRIWKHEDQRQ
LQWHUURJDWLRQZLWKRXWD0LUDQGDZDUQLQJ7KHFRXUWKHOGWKDW
WKHRIILFHUVKDGYLRODWHGWKH)RXUWK$PHQGPHQWE\HQWHULQJ
WKH DSDUWPHQW ZLWKRXW MXVWLILFDWLRQ DQG WKHUHIRUH WKDW WKH
4XDUOHV H[FHSWLRQ WR 0LUDQGD GLG QRW DSSO\ 7KH FRXUW
FRQFOXGHG WKDW ³WKH RIILFHUV KDG QR UHDVRQDEOH DUWLFXODEOH
EDVLVIRUEHOLHYLQJWKHUHZDVDQ\RQH HOVHLQWKHDSDUWPHQW
SRVLQJ D VDIHW\ WKUHDW DQG WKXV MXVWLI\LQJ WKH SURWHFWLYH
VZHHS´ $SS DW 7KH GLVWULFW FRXUW VXSSUHVVHG WKH
PDJD]LQHDQGWKHEXOOHWVRQFRGHIHQGDQW&RWKUDQ¶VPRWLRQ
WRVXSSUHVVVLQFHLWFRQFOXGHGZLWKDQDO\VLVWKDWWKH\ZHUH
VSRWWHGDIWHUDQLOOHJDOHQWU\
7KH JRYHUQPHQW DUJXHV WKDW 7DOOH\ D PHUH JXHVW DW WKH
KRPH KDG QR H[SHFWDWLRQ RI SULYDF\ DQG WKHUHIRUH ODFNV
VWDQGLQJWRFKDOOHQJHWKHRIILFHUV¶HQWU\LQWRWKHDSDUWPHQW
7KH JRYHUQPHQW SURSHUO\ SUHVHUYHG WKLV LVVXH IRU DSSHDO
DOWKRXJKWKHGLVWULFWFRXUWGLGQRWDGGUHVVLWDQGZHDJUHHWKDW
1R 8QLWHG6WDWHVY7DOOH\
7DOOH\ KDG QR H[SHFWDWLRQ RI SULYDF\ LQ WKH KRPH 7KH
³)RXUWK $PHQGPHQW SURWHFWV SHRSOH QRW SODFHV´ .DW] Y
8QLWHG 6WDWHV 86 ,W LV ZHOO
HVWDEOLVKHGWKDWDGHIHQGDQWFODLPLQJWKDWDVHDUFKYLRODWHGKLV
)RXUWK$PHQGPHQWULJKWVKDVWKHEXUGHQRIGHPRQVWUDWLQJ
WKDWKHKDGDOHJLWLPDWHH[SHFWDWLRQRISULYDF\LQWKHSODFH
WKDWZDVVHDUFKHG8QLWHG6WDWHVY6DQJLQHWR0LUDQGD
)G WK&LU $QGDOWKRXJKDQRYHUQLJKW
JXHVW PD\ EH DEOH WR HVWDEOLVK D OHJLWLPDWH H[SHFWDWLRQ RI
SULYDF\LQWKHKRPHRIKLVKRVWVHH0LQQHVRWDY2OVRQ
86 SHUVRQVZKRDUHLQDQRWKHU¶VKRPHVROHO\
IRUEXVLQHVVSXUSRVHVDVRSSRVHGWREHLQJRQWKHSUHPLVHV
IRUDSHUVRQDORFFDVLRQ±GRQRWKDYHVXFKDQH[SHFWDWLRQRI
SULYDF\ 0LQQHVRWD Y &DUWHU 86
7DOOH\OLNHWKHGHIHQGDQWVLQ&DUWHUSUHVHQWHGQRHYLGHQFH
WKDWKHKDGEHHQLQWKHDSDUWPHQWIRUDQ\SHULRGRIWLPHRUIRU
DQ\SXUSRVHWKDWZRXOGJLYHULVHWRKLVKDYLQJDOHJLWLPDWH
H[SHFWDWLRQRISULYDF\LQWKDWDSDUWPHQW7KHUHIRUH7DOOH\
ODFNVVWDQGLQJWREULQJD)RXUWK$PHQGPHQWFKDOOHQJHWRWKH
OHJDOLW\RI2IILFHU5XVK¶VHQWU\LQWRWKHDSDUWPHQW
%HFDXVH7DOOH\KDGQRH[SHFWDWLRQRISULYDF\LQWKHKRXVH
KHFDQQRWFKDOOHQJHWKHHYHQWVSUHFHGLQJWKHRIILFHUVSRWWLQJ
WKHPDJD]LQHDQGDPPXQLWLRQLQVLGHWKHWUDVKFDQ7KHUHIRUH
KLV0LUDQGDOHVVTXHVWLRQLQJLVFRQWUROOHGE\1HZ<RUNY
4XDUOHV 86 ,W LV ZHOO VHWWOHG WKDW
ZDUDQWOHVV LQWHUURJDWLRQ LV SHUPLWWHG ZKHQ RIILFHUV KDYH D
UHDVRQDEOHEHOLHIEDVHGRQDUWLFXODEOHIDFWVWKDWWKH\DUHLQ
GDQJHU7KHTXHVWLRQRIZKHWKHUDEHOLHILVUHDVRQDEOHLVRQH
ZHUHYLHZGHQRYRVLQFHWKHUHDVRQDEOHQHVVWHVWLVREMHFWLYH
QRW VXEMHFWLYH 6HH 4XDUOHV 86 DW ³>7@KH
DYDLODELOLW\ RI WKDW H[FHSWLRQ GRHV QRW GHSHQG XSRQ WKH
PRWLYDWLRQ RI WKH LQGLYLGXDO RIILFHUV LQYROYHG >DQG@
VKRXOG QRW EH PDGH WR GHSHQG RQ SRVW KRF ILQGLQJV DW D
VXSSUHVVLRQKHDULQJFRQFHUQLQJWKHVXEMHFWLYHPRWLYDWLRQRI
WKHDUUHVWLQJRIILFHU´
7KH RIILFHUV KDG OHJDO MXVWLILFDWLRQ IRU HQWHULQJ WKH
UHVLGHQFHDVDUHVXOWRIZKLFK2IILFHU5XVKVDZWKHPDJD]LQH
DQG DPPXQLWLRQ XQGHU 0DU\ODQG Y %XLH 86

-- 4 of 4 --