2:25-cv-575-APG-BNW MOTION HEARING - ROUGH DRAFT - DO NOT CITE!!!
37 a percentage of your client's business? Again, how is that irreparable in the sense what's the impact on your client's business? Is it a drop in the bucket? Is it a huge amount? MR. HAVEMANN: Well, it's the same answer. It's irreparable in the sense that we can't get it back. And it is significant. It's not de minimis or anything like that. It is significant and it's irreparable in the sense that you can't get it back, and that's what the law requires. It does not require it to, you know, be so catastrophic that it puts the company out of business. But I also note -- and this is also in the declaration -- that, you know, because these are contracts between counterparties, you have Nevada users who have open positions on the platform, and they are not necessarily, or even probably, in contracts with other people in Nevada, so this has spillover effects not just in Nevada but outside of Nevada. And no matter how we understand the Board's cease and desist letter, there would be harm to users. THE COURT: Okay. What standing do you have to raise the harm to the users? That's their damage, not yours. They're the ones that lose the millions of dollars, not you. MR. HAVEMANN: Oh. So for purposes of Article III standing, I mean, the State has not disputed our Article III standing here and so we are not relying -- THE COURT: I always have to look at it.
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UNITED STATES DISTRICT COURT Judy K. Moore, RMR, CRR
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