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Levy v. Singularity Future Tech. Ltd.

Satisfaction of Incorporation Articles for Legal Fees' Reimbursement Inadequately Alleged

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OPINION & ORDER Before the court is a motion for default judgment by Plaintiff John F. Levy (“Levy”) against Defendant Singularity Future Technology Ltd. f/k/a Sino-Global Shipping America Ltd. (“Singularity”) for failure to appear or defend against Levy’s claim for reimbursement and advancement of reasonable legal fees, costs, and expenses incurred in connection with defending the action captioned Crivellaro v. Singularity Future Technology Ltd., 22-cv-7499-BMC (E.D.N.Y. Dec. 9, 2022) (the “Securities Action”), in which Levy is named as an individual defendant. For the reasons set forth below, Levy’s motion for default judgment is denied without prejudice. This court has subject matter jurisdiction pursuant to 28 U.S.C. §1332(a) because Levy is a citizen of New Jersey and Singularity is a Virginia corporation with its principal place of business in New York, and the amount in controversy exceeds $75,000. I. BACKGROUND The facts stated here are drawn from the Complaint and taken as true. Singularity is a Virginia public corporation that, at different times, has held itself out as a shipping and freight business and a crypto-mining business. Compl.

2-3, 14. The Complaint describes Levy as a former independent director on Singularity’s Board of Directors. Id.

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