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UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
CASE NO. 21-2989-MDL-ALTONAGA/DAMIAN
This Document Relates to:
Case No. Case No. 1:23-cv-21572 -CMA and
the Federal Securities Stock Tranche
DECLARATION OF MAURICE D. PESSAH IN SUPPORT OF PLAINTIFFS MAURICE
SCARBOROUGH AND SCOTT SCHILLER’S OPPOSITION TO PLAINTIFF BLUE
LAINE-BEVERIDGE’S MOTION TO CONSOLIDATE AND DISCONTINUE THE
LEAD PLAINTIFF PROCESS FOR THE OPTIONS CLASS AS MOOT
Maurice Pessah hereby declares under penalty of perjury:
1.
I am co-counsel of record with Jeffrey A. Klafter of Klafter Lesser LLP and
Stuart N. Chelin of the Chelin Law Firm for the plaintiffs in Scarborough et al v. Robinhood
Financial LLC et al., Case No. 23-21572-CIV-ALTONAGA and co-counsel of record with Mr.
Chelin on behalf of the plaintiffs in Gossett et al. v. Robinhood Fin. LLC, et al., Case No. 1:21-
cv-21293 which case was earlier consolidated into this MDL
2.
I make this Declaration in support of the Plaintiffs Maurice Scarborough’s and
Scott Schiller’s opposition to Plaintiff Blue Laine-Beveridge’s motion to: (1) consolidate a
putative federal securities class action transferred to this Court by the JMDL Panel, styled
Maurice Scarborough et al v. Robinhood Financial LLC et al., Case No. 1:23-cv-21572 -CMA,
originally filed in the Central District of California on April 6, 2023 (the “Scarborough Action”),
with the other cases in the Federal Securities Laws Stock Tranche; and (2) discontinue as moot
the noticed lead plaintiff process with respect to the Scarborough Action and the Options Class.
3.
I am an attorney duly licensed to practice in the State of California and admitted
before this Court for the purposes of MDL No. 2989. I have personal knowledge of the matters
set forth herein and, if called upon, I could and would completely testify thereto. As to those
In re: JANUARY 2021 SHORT SQUEEZE
TRADING LITIGATION
Case 1:21-md-02989-CMA Document 571-1 Entered on FLSD Docket 06/09/2023 Page 1 of 4
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matters stated on information and belief, I believe those matters to be true.
4.
On May 18, 2021, Mr. Klafter and I were appointed by this Court to the Steering
Committee for the Antitrust Tranche, Robinhood Tranche, and Other Broker Tranche in this
MDL. No meeting of the Steering Committee was ever convened or requested by Laurence
Rosen or any member of The Rosen Law Firm for any purpose, including without limitation, to
discuss whether his tranche would include a stockholder class only or both stockholder and
options classes, or the preparation and filing of that tranche’s Consolidated Class Complaint
filed on November 30, 2021 or Amended Consolidated Class Complaint filed on January 17,
2023.
5.
Neither Mr. Rosen nor any member of The Rosen Law Firm ever communicated
with the Steering Committee at all, including to discuss whether his tranche would include a
stockholder class only or both stockholder and option classes or the preparation and filing of
that tranche’s Consolidated Class Complaint filed on November 30, 2021 or Amended
Consolidated Class Complaint filed on January 17, 2023.
6.
Attached hereto as Exhibit A is a true copy of a screenshot of from the web
address
http://www.breakinglegalnews.com/entry/The-Rosen-Law-Firm-Announces-
Securities-Class-Action-1 (which I last accessed on June 9, 2023) which shows a notice posted
by the Rosen Law Firm on October 13, 2012 announcing that The Rosen Law Firm had filed a
securities fraud class action on behalf of all persons or entities who purchased OCZ (OCZ)
common stock or call options, or sold OCZ put options, between July 10, 2012 and October
10, 2012, inclusive” (emphasis added)
7.
Attached hereto as Exhibit B is a true and correct copy of an email from Jeffrey
Klafter to Laurence Rosen, dated May 5, 2023.
8.
Attached hereto as Exhibit C is a true and correct copy of an email from
Laurence Rosen to Jeffrey Klafter, dated May 8, 2023
9.
Attached hereto as Exhibit D is a true and correct copy of an email from Stuart
Chelin to Kevin Orsini and Laurence Rosen, dated May 10, 2023.
10.
Attached hereto as Exhibit E is a true and correct copy of an email from Kevin
Orsini to Stuart Chelin, dated May 15, 2023.
I declare under the penalty of perjury, under the laws of the United States of America,
that the foregoing is true and correct.
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Executed: June 9, 2023
/s/Maurice D. Pessah
Maurice D. Pessah
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CERTIFICATE OF SERVICE
I hereby certify that on June 9, 2023, a true and correct copy of the foregoing document
was served by CM/ECF to the parties registered to the Court’s CM/ECF system.
/s/Maurice D. Pessah
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