Order Following Discovery Hearing — In re January 2021 Short Squeeze Trading Litigation (Document 600)

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An Order Following Discovery Hearing in In re: January 2021 Short Squeeze Trading Litigation, Case 1:21-md-02989-CMA (Case No. 21-2989-MDL-ALTONAGA/DAMIAN, Document 600, 3 pages), in the Southern District of Florida, done and ordered on August 16, 2023 under the name of U.S. Magistrate Judge Melissa Damian. After a Zoom Discovery Hearing on August 15, 2023, the order grants in part and denies in part Plaintiffs' motions on the noticed deposition, directing Robinhood to provide witnesses on the 37 agreed-upon topics and overruling its objection to deposing the designated witnesses in both capacities on separate dates. On Requests for Production Nos. 4, 5, and 6, Robinhood must produce by August 29, 2023 the documents previously produced to regulators and other governmental entities, but need not produce the actual subpoenas and document requests.

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Case 1:21-md-02989-CMA Document 600 Entered on FLSD Docket 08/16/2023 Page 1 of 3




                             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 Plaintiffs’ Discovery Memorandum in Support

   of Motion to Compel Attendance of Defendant Robinhood Markets, Inc. at Properly Noticed

   30(b)(6) Deposition [ECF No. 586], and Discovery Memorandum Regarding Requests for

   Production Directed to Robinhood Markets, Inc., Robinhood Financial LLC, and

   Robinhood Securities, LLC (collectively, “Robinhood”) [ECF No. 587], both filed August 7,

   2023 (the “Memoranda”), as well as Ore Tenus Motion to Compel Robinhood’s Attendance

   at Rule 30(b)(6) Deposition [ECF No. 598] and Ore Tenus Motion to Compel Robinhood’s

   Discovery Production [ECF No. 599].

            THIS COURT has considered the Memoranda, the Responses thereto [ECF Nos. 592

   and 593], 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 held August 15, 2023.

            Prior to the Discovery Hearing, the parties informed the Court that they had resolved

   their disputes concerning Plaintiffs’ Request for Production Nos. 19, 20, 22, and 23 and that

   there remains a dispute concerning Request for Production Nos. 4, 5, and 6. And at the
Case 1:21-md-02989-CMA Document 600 Entered on FLSD Docket 08/16/2023 Page 2 of 3




   hearing, the parties informed the Court that they were in agreement regarding thirty-seven

   (37) of the topics set forth in Plaintiffs’ 30(b)(6) Notice and that they are continuing their

   conferral efforts to reach a resolution regarding the remaining topics prior to the scheduled

   deposition(s).

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

          ORDERED AND ADJUDGED that the relief requested in Plaintiffs’ Discovery

   Memorandum in Support of Motion to Compel Attendance of Defendant Robinhood

   Markets, Inc. at Properly Noticed 30(b)(6) Deposition [ECF No. 586] and Ore Tenus Motion

   to Compel Robinhood’s Attendance at Rule 30(b)(6) Deposition [ECF No. 598] is

   GRANTED IN PART AND DENIED IN PART as follows:

          1.        Robinhood shall provide a Rule 30(b)(6) witness(es) with the most knowledge

   concerning the 37 agreed-upon topics listed in the Revised Notice of Deposition and any

   additional topics agreed by the parties [ECF No. 586-1];

          2.        Robinhood shall designate a Rule 30(b)(6) witness(es) on behalf of the

   Robinhood Defendants, collectively, with the most knowledge of the topics as set forth above.

   If deemed necessary, after taking the deposition of the witness(es) designated for the collective

   Robinhood entities, Plaintiffs may revisit the need to depose a separate Rule 30(b)(6)

   witness(es) for any of the specific Robinhood entities;

          3.        Robinhood’s objection to having Plaintiffs depose the witness(es) designated in

   both capacities (as individual witnesses under Rule 30(b)(1) and as Rule 30(b)(6) designees)

   on separate dates is overruled; and

          4.        The deposition of the designated Rule 30(b)(6) witness(es) shall take place on

   or before September 15, 2023. It is further


                                                   2
Case 1:21-md-02989-CMA Document 600 Entered on FLSD Docket 08/16/2023 Page 3 of 3




           ORDERED AND ADJUDGED that the relief requested in Plaintiffs’ Discovery

   Memorandum Regarding Requests for Production Directed to Robinhood [ECF No. 587]

   and Ore Tenus Motion to Compel Robinhood’s Discovery Production [ECF No. 599] is

   GRANTED IN PART AND DENIED IN PART as follows:

           1.    On or before August 29, 2023, Robinhood shall produce all documents

   previously produced in response to requests from the regulators and other governmental

   entities, as set forth in Requests for Production Nos. 4, 5, and 6, as well as correspondence to

   the extent such correspondence provides substantive information in response to requests from

   the regulators and governmental entities, that are relevant to this case, and, if any documents

   are withheld on relevance or other grounds, Robinhood shall identify documents being

   withheld and the bases for doing so; and

           2.    Robinhood is not required to produce the actual subpoenas and document

   requests from the regulators and other governmental entities.

           DONE AND ORDERED in Chambers at Miami, Florida, this 16th day of August,

   2023.

                                               ____________________________________
                                               MELISSA DAMIAN
                                               UNITED STATES MAGISTRATE JUDGE


   Copies to:
   Counsel of Record




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