Application for Appointment of Roy T. Willey, IV — In re January 2021 Short Squeeze Trading Litigation (Dkt. 243-10, S.D. Fla.)
Summary
Document 243-10 in Case 1:21-md-02989-CMA, entered on the FLSD docket April 26, 2021 and relating to all actions, is the 11-page Application for Appointment of Roy T. Willey, IV. Roy T. Willey, IV asks the Court for appointment as Interim Class Counsel or, in the alternative, as a co-chair or member of a steering committee, stating that being under 35 years of age puts Mr. Willey within the age range of potential class members. The application argues that the considerations in Rule 23(g)(1)(C), which governs appointment of class counsel once a class is certified, apply equally to the designation of interim class counsel before certification. A certificate of service dated the 26th day of April, 2021 closes the filing.
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- Date
- 2021-04-26
Cite this document
“Application for Appointment of Roy T. Willey, IV (Dkt. 243-10).”
Original at archive.org, dated 2021-04-26. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2021-04-26-bowers-v-sioux-honey-coop-ass-n-no-12-21034-2012-wl-12865846-at/
, SHA-256 90dced32820141df19438f3d564d73c0443eabfdaad2374ea936fb6ddf18f179.Full text
Case 1:21-md-02989-CMA Document 243-10 Entered on FLSD Docket 04/26/2021 Page 1 of
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UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
CASE NO. 21-2989-MDL-ALTONAGA/Torres
In re:
JANUARY 2021 SHORT SQUEEZE
TRADING LITIGATION
/
This Document Relates to All Actions
APPLICATION FOR APPOINTMENT OF ROY T. WILLEY, IV
Roy T. Willey, IV respectfully requests the Court appoint him as Interim Class Counsel.
In the alternative, Mr. Willey is willing to serve as a co-chair or on a steering committee, should
the Court appoint one. Mr. Willey is under 35 years of age making him well-acquainted with
individuals impacted by the January Short Squeeze and is within the age range of potential class
members. Moreover, Mr. Willey, along with his firm, represent the diversity of the bar. Mr.
Willey has extensive experience advocating on behalf of class members in complex matters and is
“best able to represent the interests of the class,” Fed. R. Civ. P. 23(g)(2). He requests that the
Court appoint him to do so.
ARGUMENT
Although neither the federal rules nor the advisory committee notes expressly so state, it is
generally accepted that the considerations set out in Rule 23(g)(1)(C), which governs appointment
of class counsel once a class is certified, apply equally to the designation of interim class counsel
before certification. See, e.g., In re: Disposable Contact Lens Antitrust, No. 3:15-md-2626, 2015
WL 10818781, at *1 (M.D. Fla. Oct. 7, 2015) (factors for appointing class counsel under Rule
23(g)(1)(A) apply “equally to the appointment of interim lead counsel before certification.”)
Case 1:21-md-02989-CMA Document 243-10 Entered on FLSD Docket 04/26/2021 Page 2 of
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CASE NO. 21-2989-MDL-ALTONAGA/Torres
(citations omitted); Bowers v. Sioux Honey Coop. Ass’n, No. 12-21034, 2012 WL 12865846, at *2
(S.D. Fla. Dec. 14, 2012); In re Wells Fargo Wage & Hour Emp’t Practices Litig. (No. III), No.
H-11-2266, 2011 WL 13135156, at *3 (S.D. Tex. Dec. 19, 2011). Those factors include the work
counsel has done in identifying or investigating potential claims in the action, counsel’s experience
in handling class actions, other complex litigation, and claims of the type asserted in the action,
counsel’s knowledge of the applicable law, and the resources counsel will commit to representing
the class. See Fed. R. Civ. P. 23(g)(1)(C).
The court may also consider “any other matter pertinent to counsel’s ability to fairly and
adequately represent” the class members and their interests. Fed. R. Civ. P. 23(g)(1)(B). Here, the
Rule 23(g) factors weigh in favor of appointing Mr. Willey as class counsel.
I. Mr. Willey has performed substantial work investigating the case.
Before filing his case, Mr. Willey and his team of attorneys, conducted a preliminary
evaluation of the case after being retained by two plaintiffs. The assessment required significant
factual research on the Short Squeeze itself; Robinhood’s relationship with Citadel Securities and
D1 Capital Partners; Citadel Securities’ relationship with Melvin Capital Management LP;
Robinhood’s Costumer Agreement; Robinhood’s communications with the Short Squeeze victims;
and the harm to Plaintiffs Julie and David Moody and the proposed class caused by the Short
Squeeze.
The work invested by Mr. Willey to investigate the claims has also included fielding
inquiries from and screening numerous prospective plaintiffs. Mr. Willey and his firm have
consulted with each of these putative class members individually and obtained detailed
information regarding the operative surrounding facts. Mr. Willey’s investigations have also
produced a fair volume of records relating to each Defendant’s challenged practices. Mr. Willey,
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and his firm have reviewed and organized this material and are well prepared to engage in a
thoughtful, targeted, and efficient discovery process.
Mr. Willey has also undertaken significant effort in organizing these cases since the initial
MDL motion was made. To date he has put together a database of all pending cases in the MDL
by cause of action, attorneys, transferee court, and operative facts. This database has facilitated
cooperation among Plaintiffs’ counsel and been useful in leadership organizational discussions as
outlined more fully below.
Mr. Willey has also worked diligently to prosecute this case in a timely manner, even in
the face of the ongoing COVID-19 pandemic. For example, Mr. Willey has spent hours on the
phone and Zoom with Plaintiffs’ counsel from across the country discussing the merits of the
matter and litigation strategy. He is sensitive to the challenging economic realities faced by
putative class members and has and will make every effort to ensure that this case is prosecuted in
a diligent manner.
II. Mr. Willey has significant experience and knowledge of the applicable law.
Mr. Willey supervises Anastopoulo Law Firm’s class action group and maintains an active
trial practice. A detailed resume is attached as Exhibit A to Mr. Willey’s Declaration that will be
filed in accordance with this Court’s Order issued April 19, 2021 (ECF No. 209).
Mr. Willey is nationally recognized as a leader in the fields of complex, contract based and
high stakes litigation. He graduated with an A.B. from Harvard College and with honors from the
Charleston School of Law, as he lives in Charleston, South Carolina. Professionally, Mr. Willey
has been recognized nationally for his legal leadership and currently serves as the Chairman of the
Insurance Law Section for the American Association for Justice (AAJ), and National Co-chair of
AAJ’s Business Interruption Litigation Taskforce, both roles where he has been selected by the
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Plaintiffs bar and that recognize his leadership in contract-based consumer protection work. The
latter of which was a specially appointed committee by AAJ to oversee the organization’s
response, strategy, and organization with respect to what is expected to be the largest litigation in
history arising from business losses as a result of COVID-19 and related contract based complex
litigation. This litigation has included several motions before the Judicial Panel on Multidistrict
Litigation, and both individually filed cases and class actions - several of which he is leading. He
has also been named class counsel and negotiated multi-faceted and multi-track complex litigation
on behalf of consumers in courts across the country including in the Southern District of Florida
where he was recently named co-lead interim class counsel in a contract-based class action by the
Honorable Anuraag H. Singhal. See In re: University of Miami Covid-19 Tuition and Fee Refund
Litigation, Case No. 20-60851-CIV-SINGHAL.
Mr. Willey regularly tries cases for, and with, other attorneys; having helped them achieve
significant jury verdicts in some of the most conservative venues in the country. These verdicts
have been named among the largest in the nation and state where obtained, and Mr. Willey is a
multi-year running recipient of top verdicts and settlements in South Carolina where he regularly
tries complex cases. In addition to his trial practice, Mr. Willey has prosecuted and defended cases
through appeal from the state level appellate courts in South Carolina and to the Fourth Circuit
Court of Appeals.
Mr. Willey is a frequent lecturer and lawyer educator in the areas of complex litigation,
civil procedure, e-discovery and ethics. His presentations have ranged from certification issues in
Collective and Class Actions (presented at the state trial lawyers conference that included sitting
members of the judiciary), to top trial strategies, and top ethics challenges involving duties to
prospective clients as a nationally available CLE. On a local level, he also gives back, lecturing at
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his local law school on the legal intricacies of contract law issues facing consumers, civil
procedure, and trial advocacy.
In his spare time, Mr. Willey serves as the state Chairman of South Carolina Equality
(which is responsible for winning legalization of same-sex marriage in South Carolina and recently
overturning another state law banning public school teachers from discussing homosexuality in
the classroom, and is currently fighting the bills targeting transgender student athletes), Vice Chair
of THRIVE SAVES LIVES (a domestic violence victims’ legal and housing relief organization),
and on the executive board of his local Charleston County Bar Association (where he was
unanimously elected), as well as a host of other non-profit boards and committees.
For all of this, Mr. Willey has been named among America’s Top 100 High Stakes
Litigators, a Super Lawyers Rising Star, National Top 10 Under 40, Best Lawyers, and has been
repeatedly recognized for both his community and professional involvement.
To date Mr. Willey has committed significant time identifying and investigating the claims
brought in this action, and working to develop the strategy that will ensure the putative class
members are fully compensated. Mr. Willey has also communicated with and worked with other
individuals to compile evidence in support of the claims at hand to ensure that the litigation is
effectively prosecuted.
Mr. Willey is well versed in the Federal Rules of Civil Procedure and the Federal Rules of
Evidence. Mr. Willey has studied the local rules of this Court. Mr. Willey is well positioned to
serve as interim class counsel and, if appointed, will work diligently in representing the best
interests of the putative classes.
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A. Anastopoulo Law Firm, LLC
Anastopoulo Law Firm’s attorneys have substantial experience handling consumer class
actions and other complex litigation, including successful experience litigating and settling
consumer claims for unjust enrichment and breach of contract. The firm’s attorneys have
significant complex and class action litigation experience having represented plaintiffs in
thousands of lawsuits in state and federal courts throughout the United States.
The Anastopoulo Law Firm has a physical presence in the Southeast United States, with
offices located primarily in South Carolina and in North Carolina. The firm regularly handles cases
throughout the country employing over 100 dedicated professionals, including more than 25
attorneys who are collectively licensed to practice in over a dozen state and federal bars across the
country.
Anastopoulo Law Firm was selected to lead the South Carolina consolidated Baycol
litigation for the first two scheduled bellwether trials, and served as lead counsel in Reck v. Merck
& Co. (Texas Consolidated Litigation) set for trial prior to settlement. In addition, Anastopoulo
Law Firm and Mr. Willey are currently serving as lead or co-lead counsel in numerous class action
cases pending throughout the United States.
In 2019 alone, Anastopoulo recovered approximately $60,000,000 for its clients and the
team of lawyers that are working on this case have significant jury verdict and settlement
experience having obtained more than $70,000,000 in verdicts and judgments in the last several
years. Anastopoulo brings these results, and importantly the resources of a full advocacy team
including four full time investigators, and an internal focus group and mock trial program that
allow it to test
and develop theories and case strategies from the outset to benefit the proposed class.
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Anastopoulo has assembled an in-house team of four lawyers, together with dedicated
support staff and our firm has set aside the resources necessary to grow this team as needed for
this litigation. Collectively, the team has already spent hundreds of hours on research, drafting,
and filings specific to this litigation.
The firm’s attorneys have practiced in this Court before and are well acquainted with the
Court’s practices and procedures.
III. Mr. Willey will commit the resources necessary to represent the class.
Mr. Willey and his firm has already expended significant resources in investigating and
preparing the claims asserted in the litigation and shall continue to do so. Mr. Willey and his firm
are well equipped to expend the professional time and financial resources necessary to aggressively
and effectively prosecute this litigation on behalf of the class. As discussed, the Anastopoulo Law
Firm has successfully prosecuted similar class claims and other highly complex litigation against
some of the largest corporations in the world that were vigorously defended by some of the most
capable defense counsel in the country like in this case. As such, Mr. Willey and his firm have a
well-established track record of committing ample resources to class action litigation, have never
used third-party financing and do not intend to do so in this case, which will save the putative class
members money.
IV. Mr. Willey has and will continue to facilitate cooperation among Plaintiffs’ counsel.
Ultimately, the Court’s goal is “achieving efficiency and economy without jeopardizing
fairness to the parties.” Id. § 10.001 at 25. Interim class counsel will also be acting on behalf of
other attorneys and those other attorneys’ clients in the role. Thus, other considerations come into
play, including among others, the attorneys’ ability to command the respect of their colleagues and
work cooperatively with opposing counsel and the court. See Manual § 10.224 at 27.
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Mr. Willey has already contributed significantly to cooperation among Plaintiffs’ counsel.
In an effort to establish a consensus leadership structure, Mr. Willey organized dozens of calls and
Zoom meetings with other Plaintiffs’ counsel, including organizing and moderating two, hour-
long, Zoom conferences with approximately 70 attorneys to attempt to establish a consensus
leadership structure.1 Additionally, Mr. Willey was an active participant in the Status Conference
held on April 19, 2021 and was integral in establishing the proposed tranche structure discussed
before your Honor upon which consensus has been reached among Plaintiffs’ counsel. Mr. Willey
has also established a good working relationship and will continue to work cooperatively with
Defense counsel, who also acknowledged the usefulness of the tranche structure during the Status
Conference with your Honor.
Due to his significant work with other Plaintiffs’ counsel in this matter, Mr. Willey also
makes the following recommendations for leadership. First, due to her demonstrated ability and
diligence thus far, Mr. Willey recommends that Rachel Furst be named as permanent liaison
counsel. Ms. Furst has been a pleasure to work with, has dedicated significant time to the case,
and has demonstrated the applicable knowledge and skill commensurate with the position during
all interactions with her. Mr. Willey also recommends Joseph Saveri and William “Bill” Audet2
as interim lead class counsel should they apply. Mr. Saveri and Mr. Audet have significant
experience in this type of case and MDLs generally, which will benefit the clients, and have been
unsparing with their time and knowledge in mentoring younger lawyers – including Mr. Willey –
on the case thus far. In contrast, at least one other proposed lead as part of a slate proposed to the
larger group previously has not participated in any of the leadership or case organization calls to
1
These Zoom conferences of all Plaintiffs’ counsel were held on April 21, 2021 and April 22,
2021.
2
Mr. Audet’s Career Highlights are attached to this application as Exhibit 1.
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date opting to send another lawyer in his stead. This type of relational mentoring and hands on
participation in the case is exactly what the Court should place a value on over and above typical
factors. Mr. Willey would also indicate that Jeffrey Klafter3 has participated significantly in the
case to date including sharing his knowledge and time with the younger lawyers and has a diverse
and dynamic team dedicated to these cases. As an alternative to being a sole lead himself, Mr.
Willey would be honored to serve as a co-lead or co-chair with any of these distinguished lawyers
if the Court finds it appropriate.
V. Mr. Willey has experience in this Court.
In addition to the factors set forth in Rule 23(g)(1)(A), the Court, in appointing class
counsel, “may consider any other matter pertinent to counsel’s ability to fairly and adequately
represent the interests of the class.” Accordingly, the Court may consider Mr. Willey and his
firm’s experience in this Court and this District. For example, Mr. Willey is currently leading
multiple cases in Florida and is co-lead counsel in another class action pending in the Southern
District of Florida. See In re: University of Miami Covid-19 Tuition and Fee Refund Litigation,
Case No. 20-60851-CIV-SINGHAL. This familiarity with this District weights in favor of
appointment as Interim Class Counsel or in the leadership structure.
VI. Mr. Willey is best able to serve the interests of the class.
The typical Robinhood customer is 31 years old on average.4 Mr. Willey is 34 years of
age, making him well-acquainted with individuals impacted by the by the January Short Squeeze
3
Of these four lawyers – Furst, Saveri, Audet, and Klafter – Mr. Willey has only worked with
Mr. Klafter on other cases and has found him and his firm to be professional and zealous
advocates. Therefore, the other three recommendations arise out of the attorneys’ actions and
dedication solely on this case.
4
https://www.businessinsider.com/robinhood-office-installed-bulletproof-glass-after-frustrated-
traders-visted-report-2 (Last accessed April 24, 2021).
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and is within the age range of potential class members. In fact, Mr. Willey has had several friends
impacted by the Short Squeeze. As a result, Mr. Willey is well-acquainted with the underlying
issues of the litigation.
In sum, it is submitted that Mr. Willey is well-suited to serve as interim counsel in this
action. Mr. Willey and his firm possess the experience, knowledge, and resources to capably
prosecute this action and have invested substantial time and effort in identifying and investigating
all possible claims. Such a designation will formally establish counsel who is responsible and has
authority for taking all necessary and appropriate actions in preparation of a motion for class
certification, including issues related to discovery, and who can make strategic decisions and
pursue appropriate relief to protect and advance the rights and interests of the classes.
CONCLUSION
Based on the foregoing, Roy T. Willey, IV respectfully requests appointment as Interim
Class Counsel, or alternatively, co-chair or on a steering committee, should the Court appoint one.
Dated: April 26, 2021
Respectfully submitted,
/s/ Roy T. Willey, IV
Roy T. Willey, IV
Eric M. Poulin
Blake G. Abbott
ANASTOPOULO LAW FIRM, LLC
32 Ann Street
Charleston, SC 29403
Tel.: (843) 614-8888
Fax.: (843) 494-5536
Email: roy@akimlawfirm.com
eric@akimlawfirm.com
blake@akimlawfirm.com
Counsel for Plaintiffs Julie and David
Moody and the Proposed Class
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CERTIFICATE OF SERVICE
I HEREBY CERTIFY that on this 26th day of April, 2021, a true and correct copy of the
foregoing was electronically filed with the Clerk of Court using CM/ECF. I also certify the
foregoing document is being served this day on all counsel of record in the manner specified via
transmission of Notices of Electronic Filing generated by CM/ECF.
By: /s/ Roy T. Willey, IV
Roy T. Willey, IV
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