Order Following Discovery Hearing — In re January 2021 Short Squeeze Trading Litigation (Document 541)

Summary

Order of Magistrate Judge Melissa Damian in In re: January 2021 Short Squeeze Trading Litigation (Case No. 21-2989-MDL-ALTONAGA/DAMIAN, Southern District of Florida), entered 03/11/2023 as Document 541. After a Zoom discovery hearing on March 10, 2023, it grants in part and denies in part Robinhood's discovery memorandum of February 27, 2023 [ECF No. 532] on its requests for production to plaintiffs. Plaintiffs must produce documents responsive to Request Number 4 for all named plaintiffs for the Relevant Time Period beginning December 1, 2020, and for newly added plaintiffs also for a four-month period around their joining. Request Number 11 is granted for that period; Request Number 12 is granted as to Schedules B and D of plaintiffs' federal tax returns for 2020 and 2021 and otherwise denied by agreement. Production is subject to the Stipulated Protective Order of November 23, 2021.

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Case 1:21-md-02989-CMA Document 541 Entered on FLSD Docket 03/11/2023 Page 1 of 2




                              UNITED STATES DISTRICT COURT
                              SOUTHERN DISTRICT OF FLORIDA

                          Case No. 21-2989-MDL-ALTONAGA/DAMIAN

   In re:

   JANUARY 2021 SHORT SQUEEZE
   TRADING LITIGATION
   _____________________________________/

   This Document Relates to the Securities Tranche

                         ORDER FOLLOWING DISCOVERY HEARING

            THIS CAUSE is before the Court on Defendants, Robinhood Markets, Inc.,

   Robinhood Financial LLC, and Robinhood Securities, LLC’s (collectively, “Robinhood” or

   “Defendants”), Discovery Memorandum Regarding Defendants’ Requests for Production

   Directed to Plaintiffs (the “Memorandum”), filed February 27, 2023. [ECF No. 532].

            THIS COURT has considered the Memorandum, the Response thereto [ECF No.

   538], and the pertinent portions of the record and is otherwise fully advised in the premises.

   The Court also heard from the parties, through their counsel, at a Zoom Discovery Hearing

   on March 10, 2023.

            For the reasons stated on the record at the hearing, it is hereby

            ORDERED AND ADJUDGED that the relief requested in Robinhood’s

   Memorandum [ECF No. 532] is GRANTED IN PART AND DENIED IN PART as

   follows:

            1.     As to Request for Production Number 4 of Robinhood’s First Set of Requests

   for Production, Defendants’ request is GRANTED IN PART. Plaintiffs shall produce

   documents responsive to Request Number 4 with regard to all named Plaintiffs, including the

   newly added Plaintiffs, for the Relevant Time Period (i.e., December 1, 2020 to March 5,
Case 1:21-md-02989-CMA Document 541 Entered on FLSD Docket 03/11/2023 Page 2 of 2




   2021), and, as to the newly added Plaintiffs, shall also produce responsive documents for the

   four-month period starting one month prior to the newly added Plaintiffs’ joining this action

   and three months thereafter. Robinhood’s request is otherwise DENIED as to Request

   Number 4.

           2.    As to Request for Production Number 11 of Robinhood’s First Set of Requests

   for Production, Defendants’ request is GRANTED, and Plaintiffs shall produce all

   documents responsive to Request Number 11 within the Relevant Time Period.

           3.    As to Request for Production Number 12 of Robinhood’s First Set of Requests

   for Production, Defendants’ request is GRANTED as to Schedules B and D of Plaintiffs’

   federal tax returns for the years 2020 and 2021, and, pursuant to the parties’ agreement,

   otherwise DENIED.

           4.    The production of documents, as set forth above, shall be subject to the parties’

   Stipulated Protective Order entered on November 23, 2021 [ECF No. 443].

           DONE AND ORDERED in Chambers at Miami, Florida, this 11th day of March

   2023.



                                              ____________________________________
                                              MELISSA DAMIAN
                                              UNITED STATES MAGISTRATE JUDGE


   Copies to:
   Counsel of Record




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