Conditional Remand Order — In re January 2021 Short Squeeze Trading Litigation, MDL No. 2989 (Document 709)

Summary

A Conditional Remand Order of the United States Judicial Panel on Multidistrict Litigation in In re: January 2021 Short Squeeze Trading Litigation, MDL No. 2989 (Document 344, filed November 7, 2024), entered in Case 1:21-md-02989-CMA in the Southern District of Florida as Document 709 (3 pages). The Panel remands Lagmanson et al v. Robinhood Markets, Inc. et al to its transferor court after the transferee court, on September 19, 2024, granted an unopposed motion to sever the action from the MDL and transfer it to the Northern District of Illinois. The attached order, dated September 18, 2024 under the name of Chief U.S. District Judge Cecilia M. Altonaga, grants the motion of Plaintiffs Marcus Lagmanson, Anthony Reyes and Brian Belderrain to sever their claims and directs the Clerk to transfer Case No. 21-cv-21298 to the Northern District of Illinois.

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Date: 2024-09-19

Cite this document

“Conditional Remand Order — In re January 2021 Short Squeeze Trading Litigation, MDL No. 2989 (Document 709).” Original at archive.org, dated 2024-09-19. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2024-09-19-panel-remand-the-action-to-its-transferor-court-see-lexecon-inc-v-milberg/, SHA-256 a6fe0f27495e23d40d2001f367bdae366bea983cb6c4654575ea87fa1a530485.

Full text

Case 1:21-md-02989-CMA Document 709 Entered on FLSD Docket 11/07/2024 Page 1 of 3

Case MDL No. 2989 Document 344 Filed 11/07/24 Page 1 of 2

UNITED STATES JUDICIAL PANEL
on
MULTIDISTRICT LITIGATION

IN RE: JANUARY 2021 SHORT SQUEEZE TRADING
LITIGATION MDL No. 2989

(SEE ATTACHED SCHEDULE)

CONDITIONAL REMAND ORDER

The Panel has been advised that coordinated or consolidated pretrial proceedings in the action on this
conditional remand order are complete. In August 2024, plaintiffs filed an unopposed motion to sever
this action from the MDL and transfer it to the Northern District of Illinois. The transferee court granted
this motion on September 19, 2024. As this action was transferred to the MDL under 28 U.S.C. § 1407,
the statute requires that the Panel remand the action to its transferor court. See Lexecon Inc. v. Milberg
Weiss Bershad Hynes & Lerach, 523 U.S. 26 (1998).

IT IS THEREFORE ORDERED that the action on this conditional remand order be remanded to its
transferor court.

IT IS ALSO ORDERED that, pursuant to Rule 10.2 of the Rules of Procedure of the United States
Judicial Panel on Multidistrict Litigation, the transmittal of this order to the transferee clerk for filing
shall be stayed 7 days from the date of this order. If any party files a notice of opposition with the Clerk
of the Panel within this 7-day period, the stay will be continued until further order of the Panel. This
order does not become effective until it is filed in the office of the Clerk for the United States District
Court for the Southern District of Florida.

FOR THE PANEL:

Nov 07, 2024
Marcella R. Lockert
Acting Clerk of the Panel
Case 1:21-md-02989-CMA Document 709 Entered on FLSD Docket 11/07/2024 Page 2 of 3

Case MDL No. 2989 Document 344 Filed 11/07/24 Page 2 of 2

IN RE: JANUARY 2021 SHORT SQUEEZE TRADING
LITIGATION MDL No. 2989

SCHEDULE FOR CRO

TRANSFEREE TRANSFEROR
DIST DIV. C.A.NO. DIST DIV. C.A.NO. CASE CAPTION
FLS 1 21-21298 ILN 1 21-00541 ~Lagmanson et al v. Robinhood Markets, Inc. et al

Case 1:21-md-02989-CMA Document 709 Entered on FLSD Docket 11/07/2024 Page 3 of 3
Case 1:21-cv-21298-CMA
Case MDL No. 2989
Document
Document
21 Entered
344-1 onFiled
FLSD 11/07/24
Docket Page
09/19/2024
1 of 1 Page 1 of 1
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA

CASE NO. 21-02989-MDL-ALTONAGA/Reid

In re:

JANUARY 2021 SHORT SQUEEZE
TRADING LITIGATION
_________________________________/

ORDER

THIS CAUSE is before the Court on Plaintiffs, Marcus Lagmanson, Anthony Reyes, and

Brian Belderrain’s Second Amended Motion . . . to Sever Their Claims [ECF No. 694], filed on

August 15, 2024. The Court held a Status Conference [ECF No. 699] on September 18, 2024.

Defendants do not oppose severance of Plaintiffs’ consolidated case and transfer of the action to

the District in which it was originally filed. Consequently, it is

ORDERED that Plaintiffs’ Motion [ECF No. 694] is GRANTED. The Clerk is

instructed to transfer Case No. 21-cv-21298 to the United States District Court for the Northern

District of Illinois and mark the case as CLOSED in this District.

DONE AND ORDERED in Miami, Florida, this 18th day of September, 2024.

_______________________________________
CECILIA M. ALTONAGA
CHIEF UNITED STATES DISTRICT JUDGE
cc: counsel of record

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