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Court — Court Filing
Dkt. #270 — Defendants' Motion to Dismiss
Defendants' motion to dismiss the CFTC's complaint, arguing lack of subject matter jurisdiction over Ethereum SPOT transactions.
Document Details
Date Filed
October 17, 2023
Agency
Court Filing
Recipient
U.S. District Court, N.D. Illinois
File
Defendants_MTD_Dkt270.pdf
148 KB
Page 1 / 3
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IN THE UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
COMMODITY FUTURES TRADING
COMMISSION,
Plaintiff,
v.
SAM IKKURTY A/K/A SREENIV ASI
RAO, RAVISHANKAR AVADHANAM,
AND JAFIA LLC,
Defendants,
IKKURTY CAPITAL, LLC D/B/A ROSE
CITY INCOME FUND, ROSE CITY
INCOME FUND II LLP, AND SENECA
VENTURES, LLC,
Relief Defendants.
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Case No. 1-22-CV-02465
Hon. Mary M. Rowland
Magistrate Judge Jeffrey Cummings
DEFENDANTS SAM IKKURTY AND JAFIA, LLC’S MOTION FOR
SUMMARY JUDGMENT, MOTION TO DISMISS, AND
MOTION FOR JUDGMENT ON THE PLEADINGS
Defendants Sam Ikkurty (“Mr. Ikkurty”) and Jafia LLC (“Jafia”) (together, “Defendants”)
respectfully submit this Motion for Summary Judgment (conclusive and no-evidence), Motion to
Dismiss Plaintiff Commodity Futures Trading Commission’s (the “CFTC’s” or the
“Commission’s”) Complaint for Injunctive Relief, Civil Monetary Penalties, and Other Equitable
Relief [Dkt. #1] (the “Complaint”), and Motion for Judgment on the Pleadings pursuant to Federal
Rules of Civil Procedure 56, 12(b)(1) and 12(c). This Motion and the accompanying Memorandum
of Law in support cite to the contemporaneously filed Defendants’ Sam Ikkurty and Jafia, LLC’s
Statement of Material Facts Pursuant to Local Rule 56.1(A)(2).
Case: 1:22-cv-02465 Document #: 270 Filed: 10/16/23 Page 1 of 3 PageID #:4286
IN THE UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
COMMODITY FUTURES TRADING
COMMISSION,
Plaintiff,
v.
SAM IKKURTY A/K/A SREENIV ASI
RAO, RAVISHANKAR AVADHANAM,
AND JAFIA LLC,
Defendants,
IKKURTY CAPITAL, LLC D/B/A ROSE
CITY INCOME FUND, ROSE CITY
INCOME FUND II LLP, AND SENECA
VENTURES, LLC,
Relief Defendants.
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
Case No. 1-22-CV-02465
Hon. Mary M. Rowland
Magistrate Judge Jeffrey Cummings
DEFENDANTS SAM IKKURTY AND JAFIA, LLC’S MOTION FOR
SUMMARY JUDGMENT, MOTION TO DISMISS, AND
MOTION FOR JUDGMENT ON THE PLEADINGS
Defendants Sam Ikkurty (“Mr. Ikkurty”) and Jafia LLC (“Jafia”) (together, “Defendants”)
respectfully submit this Motion for Summary Judgment (conclusive and no-evidence), Motion to
Dismiss Plaintiff Commodity Futures Trading Commission’s (the “CFTC’s” or the
“Commission’s”) Complaint for Injunctive Relief, Civil Monetary Penalties, and Other Equitable
Relief [Dkt. #1] (the “Complaint”), and Motion for Judgment on the Pleadings pursuant to Federal
Rules of Civil Procedure 56, 12(b)(1) and 12(c). This Motion and the accompanying Memorandum
of Law in support cite to the contemporaneously filed Defendants’ Sam Ikkurty and Jafia, LLC’s
Statement of Material Facts Pursuant to Local Rule 56.1(A)(2).
Case: 1:22-cv-02465 Document #: 270 Filed: 10/16/23 Page 1 of 3 PageID #:4286
Key Points
Challenges CFTC's subject matter jurisdiction over Ethereum SPOT
Argues Congress never granted CFTC authority over spot crypto
Foundation for the current 7th Circuit appeal