Telephonic Status Conference - S-21355A-25-0104 - Patrick B. Horsman et al. - Jun 01, 2026

meeting

Arizona Corporation Commission 7 min 7 agenda items transcribed 3 days ago official recording ↗

▲ 0

Transcript

jump: agenda · find in transcript

Transcript

Transcript generated automatically by AI and may contain errors.

What is the purpose of this Telephonic Status Conference and who are the participants?

Yvette Kinsey 0:00

And Sarah, if you're ready, we'll go ahead and go on the record. Okay, let's go ahead. All right. Good morning, everyone. I'm Administrative Law Judge Yvette Kinsey. And this is the time set for the Telephonic Status Conference in the matter of Patrick B. Horsman, et al. This is docket number S21355A250. 0104. And just one reminder that we the court reporter is trying to take down our words. So if you can remember to please identify yourself before you speak. And we'll go ahead and take appearances for the record. And we'll start with the securities division.

Cynthia Thomas 0:54

Thank you, Your Honor. This is Cynthia Thomas on behalf of the security division.

Yvette Kinsey 0:59

Thank you, Ms. Thomas.

How does the respondents’ counsel update the court on the Superior Court judgment and appeal deadline?

Yvette Kinsey 1:00

And for the respondents?

Joe Adams 1:03

Good morning, Your Honor. Joe Adams and Taryn Gallup of Snell and Wilmer for the respondents.

Yvette Kinsey 1:09

All right. Thank you, Mr. Adams and Ms. Gallup. All right. The reason that we call the status conference this morning is to have the parties update me on what's happening with the Superior Court case. And Mr. Adams, I believe, although you may not be the counsel representing the respondents in that matter, but I'm sure you're probably more aware of what's going on. So can you just start with an update, and then I'll have the Securities Division to follow up.

Joe Adams 1:43

Sure. Thank you, Your Honor. In the Superior Court case, judgment has now been entered. I have a copy of the judgment, the final judgment, which I've shared with Ms. Thomas, and it is dated May 5th, 2026.

What is the Securities Division’s position on the pending appeal and next steps?

Joe Adams 1:56

It was actually filed a couple days later on May 7th. From what I understand in speaking with trial counsel, no notice of appeal has been filed yet. They are uncertain whether one will be filed. If we go off of the May 5th date, the deadline for filing a notice of appeal would be June 4th later this week. But so far we do have the final judgment and the time for appeal has almost expired.

Yvette Kinsey 2:20

Okay. And anything from the division on that?

Cynthia Thomas 2:26

Um, yes, briefly, Your Honor. And my understanding is similar to Mr. Adams, although I have been apprised that an appeal may be filed. Um, that being said, given that the deadline is June 4, I I guess I've been told that an appeal is gonna be filed. Given the date of the deadline, I guess we're just waiting to see if one does get filed. On that same day, myself, Mr. Adams, and at least one of the trial counsel attorneys do plan to meet this week to kind of discuss additional involvements with the case here at the Corporation Commission. um so that that's about where we've gotten so far um with that being said because we still have so many questions um and uh the council for the parties are planning to meet this week.

Cynthia Thomas 3:31

Um, it doesn't make sense for us to, I guess, try to set a, uh, hearing date with those questions still, uh, still out there.

How do the parties propose scheduling a follow‑up status conference after the appeal deadline?

Cynthia Thomas 3:43

Yvette Kinsey 3:44

Cynthia Thomas 3:44

guess at this time, the divisions, uh, stand would be to, or the division stance would be to probably revisit this issue in about 30, 45 days. Um, at that point, uh, the council in this case will have met, uh, hopefully we'll have a question of, or the answer to the question of whether or not the appeal has been filed on what direction that the case would then take at that point.

Yvette Kinsey 4:11

Okay. That sounds reasonable, Ms. Thomas. Um, and Mr. Adams, do you want to just chime in, um, on the division's proposal?

Joe Adams 4:22

Your Honor, we agree that would be appropriate given the tendency of the appeal potentially as well as our continuing discussions with the division. This could go in a lot of different directions and we agree that revisiting this in 30, 45 days, whatever makes sense, would be the way to go.

Yvette Kinsey 4:42

Okay. All right. Ms. Thomas, did you have a particular date in mind that you were looking at for maybe setting another status conference?

Cynthia Thomas 4:55

Your Honor any day starting the week of July 6th would likely work for the division.

What dates and availability do the division and respondents give for the July status conference?

Cynthia Thomas 5:02

I will be out of town and kind of out of commission for much of June through the very first week of July. So yeah any any period or any period after July 6th or on or after July 6th would work for the division.

Yvette Kinsey 5:18

How about you, Mr. Adams? Does that time frame look good for you as well?

Joe Adams 5:27

Well, as it happens, Your Honor, my vacation is scheduled for the weeks of July 6th and the 13th.