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IN RE January 2021 Short Squeeze Trading Litigation — Decision, Doc. 559-27

Summary

Exhibit 25, filed as Document 559-27 in Case 1:21-md-02989-CMA (In re January 2021 Short Squeeze Trading Litigation) and entered on the FLSD docket on April 28, 2023, reproduces a chat of January 28, 2021 addressed to Gretchen Howard. The writer agrees that the company had to PCO earlier that day but says two things were still owed: bringing back trading in these securities as soon as possible or, failing that, a very clear blog post explaining what happened. The writer passes on a colleague's suggestion that Vlad write a blog post and says decision making had become too conservative and risk-averse. Gretchen Howard replies that the blog post is written and waiting on approval, that PCOs are being removed as fast as possible with contract limits applied, and that she is in a meeting with the board. The two chat pages are numbered RHMDL00005649 and RHMDL00005650.

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Date
2023-04-28

Cite this document

“IN RE January 2021 Short Squeeze Trading Litigation — Decision, Doc. 559-27.” Original at archive.org, dated 2023-04-28. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2023-04-28-covid-era-misc-e9b076cd-1/, SHA-256 e9b076cd1a322549016d917cedc3e5999f7ee2784e02525448d8010f4799b2bf.

Full text

Case 1:21-md-02989-CMA Document 559-27 Entered on FLSD Docket 04/28/2023 Page 1 of 3




             EXHIBIT 25
Case 1:21-md-02989-CMA Document 559-27 Entered on FLSD Docket 04/28/2023 Page 2 of 3




     DF3BR9CLU: 01/28/2021

     01/28/2021 12:22:24

        Hi Gretchen, I know you are probably fully on top of this but I have been a part of many many sevs here
        including 12/12, 12/13, 3/2, etc but somehow I feel very frustrated with our sev response today.
        Sometimes companies don't recover from things like this. (Think of something like #delete-uber
        campaign).




     01/28/2021 12:22:37

        I understand the reasoning and agree that we had to PCO earlier today. that decision is fine.




     01/28/2021 12:22:54

        But there are two things we ought to be doing but not sure where we are with them:




     01/28/2021 12:23:24
                                                                                                             (Edited)
          1. We should be trying to bring back trading in these securities like other companies asap. My
             understanding is that a lot of people worked very hard to try and bring them back but it was a no
             go.

          Original

            1. We should be trying to bring back trading in these securities like other people. My
               understanding is that a lot of people worked very hard to try and bring them back but it was a no
               go.




     01/28/2021 12:24:04

          2. If we cannot do that, we must write a very clear blog post explaining what exactly happened today.
             Personally, I think we should fully lay out our cards. Nothing short of that would do.




     01/28/2021 12:24:19

        My slack is full of messages like this:




     01/28/2021 12:24:34




                                                                                                              RHMDL00005649
Case 1:21-md-02989-CMA Document 559-27 Entered on FLSD Docket 04/28/2023 Page 3 of 3

            Going to echo this to you because i think it would be worth a consideration: I think Vlad should write a blog
            post to address what has went on, there's an opportunity here for our customers to feel sympathy for us
            rather than attack us
            A lot of the hate we are getting is because nobody has accurate information about what's happening behind
            the scenes, and I don't see any reason why they shouldn't know




     01/28/2021 12:25:14

        Our decision making seems to have sysmetically become too conservative/risk-averse but thats
        probably a conversation for some other day.


     Gretchen Howard

     01/28/2021 12:25:39

        blog post is written and smedley is just waiting on approval


     Gretchen Howard

     01/28/2021 12:26:01

        on <#CPCTVCD2M 11 > that's not exactly true. we are doing everything we can to remove PCOs asap
        and applying contract limits


     Gretchen Howard

     01/28/2021 12:26:20

        I am in a meeting with the board but happy to call you afterwards if helpful


     Gretchen Howard

     01/28/2021 12:26:24

        sorry for the short answers




     01/28/2021 12:26:49

        no worries. On <#CPCTVCD2Ml1 >, it would have been nice if we could have brought them back today
        but sounds like that would not be possible.




     01/28/2021 12:26:56

        nvm, we can chat later after the board meeting


     Gretchen Howard

     01/28/2021 12:27:17

        I can give you more context live on <#CPCTVCD2Ml1 >




                                                                                                                      RHMDL00005650

File and source

File
gov.uscourts.flsd.590042.559.27.pdf
Size
353,292 bytes
SHA-256
e9b076cd1a322549016d917cedc3e5999f7ee2784e02525448d8010f4799b2bf
Our copy
gov.uscourts.flsd.590042.559.27.pdf
Original
archive.org
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