Written Disclosures in Support of Motion to Appoint Joseph R. Saveri as Interim Lead Counsel — In re January 2021 Short Squeeze Trading Litigation (Dkt. 293, S.D. Fla.)

Summary

Written Disclosures in Support of Motion to Appoint Joseph R. Saveri as Interim Lead Counsel in In re: January 2021 Short Squeeze Trading Litigation, Case 1:21-md-02989-CMA (Case No. 21-2989-MDL-ALTONAGA/Torres, Document 293, 6 pages), in the U.S. District Court for the Southern District of Florida, entered May 13, 2021, relating to All Actions. Answering the Court's written questions, Plaintiffs Shane Cheng and Terell Sterling state that Joseph Saveri and JSLF have no other representation of present parties, no financial interest in other counsel's claims and no fee sharing agreements. The responses add that JSLF is entirely self-funded and will not rely on third-party litigation funders, over the /s/ signature of Joseph R. Saveri dated May 13, 2021.

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Date: 2021-05-13

Cite this document

“Written Disclosures in Support of Motion to Appoint Joseph R. Saveri as Interim Lead Counsel (Dkt. 293).” Original at archive.org, dated 2021-05-13. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2021-05-13-mr-saveri-and-william-audet-counsel-of-record-in-cezana-v-robinhood-et-al-case/, SHA-256 8f93e8b45d744b16cafad11b63ab1240a88548d20cb47a29b0f22d202ebba68a.

Full text

Case 1:21-md-02989-CMA Document 293 Entered on FLSD Docket 05/13/2021 Page 1 of 6

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

WRITTEN DISCLOSURES IN SUPPORT OF
MOTION TO APPOINT JOSEPH R. SAVERI AS INTERIM LEAD COUNSEL

1
Case 1:21-md-02989-CMA Document 293 Entered on FLSD Docket 05/13/2021 Page 2 of 6

Pursuant to the Court’s May 5, 2021 Order, MDL ECF No. 286, Plaintiffs Shane Cheng and

Terell Sterling (“Cheng Plaintiffs”) hereby submit the following written responses in support of the

Cheng Plaintiffs’ Motion to Appoint Joseph R. Saveri as Interim Lead Counsel (the “Motion”). MDL

ECF No. 243-8.

Written Question No. 1:

Do you represent any present parties or claimants in this litigation whom you have

represented in any other capacity or in any other court (either currently or within the past 3

years)? If so, please describe.

Response to Question No. 1:

Joseph Saveri and the Joseph Saveri Law Firm (“JSLF”) do not represent Plaintiffs Shane

Cheng and Terell Sterling, or any other parties or claimants currently present in this litigation, in any

other court either currently or within the past 3 years prior to the present litigation.

Written Question No. 2:

Do you have any financial interest or financial relationship, including but not limited to

as an investor, officer, director, employee, or contractor, in or with any party or client/claimant

involved in this MDL (other than a written retainer or engagement agreement for a client in

these consolidated actions)? If so, please describe.

2
Case 1:21-md-02989-CMA Document 293 Entered on FLSD Docket 05/13/2021 Page 3 of 6

Response to Question No. 2:

Mr. Saveri and members of JSLF do not have any significant financial interests or financial

relationships with any party or client involved in this MDL besides the contingent fee agreement as set

forth within the written retainer agreements for the Cheng Plaintiffs.1

Written Question No. 3:

Do you have any financial interest (direct or indirect) in any Short Squeeze claims or

lawsuits filed or registered by any other counsel in this MDL, other than the co-counsel

relationships disclosed in the case chart (see [ECF No. 200-1])? If so, please describe.

Response to Question No. 3:

Mr. Saveri and JSLF do not have any direct or indirect financial interest, e.g., fee sharing

agreements, in any Short Squeeze claims or lawsuits filed or registered by any other counsel in this

MDL or as disclosed in the case chart (MDL ECF No. 200-1).

Written Question No. 4:

Do you have any personal relationship (including but not limited to familial or

financial/business) with any party, client, claimant, counsel, or vendor involved in this MDL? If

so, please describe.

1
Members of JSLF have interests in common investment funds (e.g., mutual funds) and
retirement funds (e.g., 401k plans or Individual Retirement Accounts (IRA)) through which they
may have financial interests in certain parties. Neither Mr. Saveri nor members of JSLF
participate in the management of any such funds. Cf. 28 U.S.C. § 455(d)(4)(i) (“Ownership in a
mutual or common investment fund that holds securities is not a ‘financial interest’ in such
securities unless the judge participates in the management of the fund”).

3
Case 1:21-md-02989-CMA Document 293 Entered on FLSD Docket 05/13/2021 Page 4 of 6

Response to Question No. 4:

Mr. Saveri and members of JSLF have professional working relationships with other Short

Squeeze counsel for plaintiffs with whom they have facilitated the orderly advancement of the Short

Squeeze actions prior to and after centralization as described in the Motion. JSLF does not have any

personal relationship to any party, claimant, counsel, or vendor involved in this MDL other than prior

professional association.2

JSLF has served with other Short Squeeze counsel for plaintiffs in leadership roles in other

matters. For example, JSLF serves with Gustafson Gluek PLLC,3 Edelson Lechtzin LLP,4 and Grabar

Law Office,5 on the litigation team in In re Juul Labs, Inc. Antitrust Litigation, Case No. 3:20-cv-

02345-WHO (N.D. Cal.) (“Juul”) wherein JSLF was appointed sole Interim Lead Counsel for the

Direct Purchaser Plaintiffs; with Levin Sedran & Berman,6 who represents one of the named plaintiffs

in In re Capacitors Antitrust Litigation, No. 3:14-cv-03264 JD (N.D. Cal.) (“Capacitors”) in which

JSLF is sole lead class counsel; and with CERA LLP,7 in Juul and Capacitors. JSLF has also worked

with other Short Squeeze counsel for plaintiffs including the aforementioned on other matters as co-

counsel in non-leadership capacities. JLSF has represented parties in other cases in which lawyers or

law firms appearing as counsel of record for one or more defendants in the Short Squeeze action have

represented adversaries and has developed professional working relationships in that context.

2
Mr. Saveri and William Audet, counsel of record in Cezana v. Robinhood et al., Case No. 21-cv-
21315, were contemporaneously partners at Lieff Cabraser Heimann & Berstein LLP.
3
Counsel of record in Fox v. Ally Financial Inc., Case No. 21-cv-21478.
4
Counsel of record in Clapp et. al v. Ally Financial Inc., Case No. 21-cv-21441.
5
Counsel of record in Clapp et. al v. Ally Financial Inc., Case No. 21-cv-21441.
6
Counsel of record for D’Agostino et al. v. Ally Financial Inc., Case No. 21-cv-21458.
7
Counsel of record in Krasowski v. Robinhood Financial LLC, Case No. 21-cv-21313.

4
Case 1:21-md-02989-CMA Document 293 Entered on FLSD Docket 05/13/2021 Page 5 of 6

Written Question No. 5:

Do you or your firm have any financing that is contingent upon this litigation? If yes, the

following questions shall be answered:

 Does the litigation funder have any control (direct or indirect, actual or apparent

or implied) over the decision to file or the content of any motions or briefs, or

any input into the decision to accept a settlement offer?

 Does the financing (1) create any conflict of interest for counsel, (2) undermine

counsel’s obligation of vigorous advocacy, (3) affect counsel’s independent

judgment, (4) give to the lender any control over litigation strategy or settlement

decisions (as to either the common benefit work done by counsel or work for

individual retained clients), or (5) affect party control of settlement?

Response to Question No. 5:

JSLF is entirely self-funded and does not, nor will it, rely on third-party litigation funders

or any other funding contingent on the outcome of this litigation.

Written Question No. 6:

The applicant shall disclose any other relationship or fact that he or she believes, if

known, would be material to the Court with respect to either an actual conflict of interest or

the appearance of a conflict of interest that the applicant has not already disclosed to the

Court.

5
Case 1:21-md-02989-CMA Document 293 Entered on FLSD Docket 05/13/2021 Page 6 of 6

Response to Question No. 6:

Mr. Saveri and JSLF do not have any relationships nor know of any facts that would be

material with respect to either an actual conflict of interest or the appearance of a conflict of

interest.

Dated: May 13, 2021 JOSEPH SAVERI LAW FIRM, LLP

By: /s/ Joseph R. Saveri
Joseph R. Saveri

Joseph R. Saveri (CA Bar No. 130064)
Steven N. Williams (CA Bar No. 175489)
Christopher K.L. Young (CA Bar No. 318371)
Anupama K. Reddy (CA Bar No. 324873)
JOSEPH SAVERI LAW FIRM, LLP
601 California Street, Suite 1000
San Francisco, CA 94108
Telephone: (415) 500-6800
Facsimile: (415) 395-9940
jsaveri@saverilawfirm.com
swilliams@saverilawfirm.com
cyoung@saverilawfirm.com
areddy@saverilawfirm.com

Attorneys for Plaintiffs Shane Cheng and Terell
Sterling

CERTIFICATE OF SERVICE

I hereby certify that on May 13, 2021, a true and correct copy of the foregoing document

was served on all counsel of record by the CM/ECF system.

Dated: May 13, 2021 /s/ Joseph R. Saveri
Joseph R. Saveri

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