MEMORANDUM OPINION AND ORDER Plaintiff Robert W. Seiden, Esq. (“Seiden”), as receiver for China North East Petroleum Holdings Limited (“the Company”), moves for a default judgment against Defendant Baker Tilly Hong Kong Limited (“Baker Tilly”), pursuant to Federal Rule of Civil Procedure 55(b)(2) and S.D.N.Y. Local Civil Rule 55.2(b), on claims arising from Baker Tilly’s alleged negligence in performing an audit and issuing an audit report for the Company. Baker Tilly has not appeared or responded to the claims asserted against it in this action, despite having been afforded ample time and opportunity to do so.The Court has jurisdiction of this action pursuant to 28 U.S.C. §1332 and §1367.The Court has reviewed Plaintiff’s submissions carefully and, for the following reasons, Plaintiff’s motion for default judgment is granted.BACKGROUNDThe following recitation of facts is drawn from Plaintiff’s First Amended Complaint (docket entry no. 11, the “FAC”), as well as uncontroverted documentary evidence submitted by Plaintiffs in connection with the instant motion practice. In light of Baker Tilly’s failure to respond to the FAC, Plaintiff’s well-pleaded factual allegations are deemed admitted. See Fed. R. Civ. P. 8(b)(6); Greyhound Exhibitgroup, Inc. v. E.L.U.L. Realty Corp., 973 F.2d 155, 158 (2d Cir. 1992) (“[A] party’s default is deemed to constitute a concession of all well pleaded allegations of liability.”). Plaintiff’s additional factual proffers are uncontroverted.The Company is a Nevada corporation first registered on August 26, 1999. (FAC 3.) Plaintiff was appointed as the receiver for the Company by the Second Judicial District Court of the State of Nevada in and for the County of Washoe in the action Amy Liu, et al. v. China North East Petroleum Holdings Limited, Case No. CV15-02299. (FAC 2; Acceptance of Receivership, docket entry no. 32-2.) According to the Company’s SEC Forms S-3 and 10-K, it maintained principal executive offices in New York, NY. (Seiden Decl., Exs. 7 and 9.) Its shares were traded on the NASDAQ, which is located in New York and, according to the FAC, a substantial part of the events giving rise to the claims against Defendant occurred in New York. (FAC 7.) Defendant is a private limited company registered in Hong Kong with limited shares; its shareholders are domiciled in Hong Kong. (Id. 4.) Defendant is a Public Company Accounting Oversight Board-registered audit firm. (Id.)Beginning on or before January 2009, Wang Honjun (“Wang”), who was then the Chairman of the Company’s Board of Directors and CNEP’s President and CEO, and Ju Guizhi (“Ju”), one of the Company’s founders, engaged in numerous, undisclosed, related-party transactions involving the Company. (FAC 8.) In support of this allegation, Plaintiff proffers an Independent Accountant’s Report prepared by John Lees Associates for the Company’s Board of Directors (the “Independent Audit”), which indicates that 176 transactions occurred without specific Board approval in 2009 (Independent Audit, docket entry no. 32-5, §1.4.3) and bank statements which show that transfers were made to company insiders or their family members in 2009. (FAC
15-16, 22; Bank Statements, docket entry no. 32-7.) These transactions totaled at least $59 million.1 (FAC
