Exhibit C: MDL 2989 — Mediation Scheduled for May 17, 2023 (Document 565-5)

Summary

Exhibit C to Document 565 in Case 1:21-md-02989-CMA (Document 565-5), entered on the FLSD docket 05/26/2023, is an email of Wednesday, May 10, 2023 from Stuart N. Chelin, addressed to Laurence and Kevin and copied to Jeff Klafter and Maurice Pessah, on the mediation scheduled for May 17, 2023 in MDL 2989. The email states that Pessah, Klafter and Chelin filed Scarborough et al. v. Robinhood Markets LLC et al. (the Options Action), originally filed in the Central District of California and now part of MDL No. 2989, for holders of call options as of the close on January 27, 2021 with losses between January 28, 2021, and February 19, 2021. Because Lead Plaintiff motions in the Options Action must be filed no later than June 5, 2023 under the PSLRA, the email asks counsel to agree to postpone the Mediation until Lead Counsel and Lead Plaintiff for the Options Class have been determined.

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Case 1:21-md-02989-CMA Document 565-5 Entered on FLSD Docket 05/26/2023 Page 1 of 2

EXHIBIT C
From: Stuart Chelin <stuart@cl@4sevl.2tmd-02989-CMA Document 565-5 Entered on FLSD Docket 05/26/2023 Page 2 of 2
Sent: Wednesday, May 10, 2023 5:16 PM

To: Laurence Rosen <lrosen@rosenlegal.com>; korsini@cravath.com

Cc: Jeff Klafter <jak@klafterlesser.com>; Maurice Pessah <maurice@pessahgroup.com>

Subject: MDL 2989-—-Mediation Scheduled for May 17, 2023

[EXTERNAL EMAIL]

Dear Laurence and Kevin,

As you know, Messrs. Pessah, Klafter and | have filed, and served, a Complaint in Scarborough et al. v. Robinhood Markets LLC et al. (the “Options Action”).

The Options Action, which was originally filed in the Central District of California, has been transferred, and is now a part of MDL No. 2989 (the “MDL”), Case No. 23-21572-ClIv-
ALTONAGA. The Options Action asserts the same securities fraud claims which are now pending before the Court in the MDL. However, the Options Action seeks redress on behalf
of a class which is distinct from the existing securities action currently pending under the Securities Tranche of the MDL (“Stock Action”). The Stock Action asserts claims on behalf
of those persons who held the affected common stocks at issue as of the close of trading on January 27, 2021, and sold such shares at a loss between January 28, 2021, and
February 4, 2001 (“Stock Class”). The Options Action asserts claims on behalf of those persons who held call options to purchase the restricted securities at issue as of the close on
January 27, 2021, and who either sold those options, or had them expire, resulting in a loss between January 28, 2021, and February 19, 2021 (“Options Class”). Further, the
basket of affected options in the Options Action largely overlaps the basket of affected stocks in the Stock Action except that the affected options basket (i) includes options to
purchase American Airlines Group Inc. (NASDAQ: AAL), and (ii) does not include options to purchase Koss Corp. (“KOSS”), Tootsie Roll Industries Inc. (“TR”), or Trivago N.V.
(“TRVG").

We are aware that the Court has entered an order requiring each of you to participate in a mediation on May 17, 2023 in an effort to settle the securities fraud claims sustained by
the Court (“Mediation”). It is our opinion that, given the imbrication of the securities fraud allegations in the Options Action and those in the Stock Action, it would be most
efficient and appropriate for the Mediation to include the participation of counsel for both the Options Class and the Stock Class. However, the Options Action is governed by the
procedures of the Private Securities Litigation Reform Act of 1995 (“PSLRA”), and, given the publication date of the notice of filing of the Options Action pursuant to the PSLRA,
Lead Plaintiff motions in the Options Action must be filed no later than June 5, 2023. Messrs. Pessah, Klafter and | intend on bringing a motion for appointment of our clients as
Lead Plaintiffs and us as Lead Counsel for the Options Action.

We are writing to seek your agreement to postpone the Mediation until after Lead Counsel and Lead Plaintiff for the Options Class have been determined so that the Mediation
can proceed with the inclusion of Lead Plaintiffs for the Options Class as well as for the Stock Class. If you are in agreement with this, we would all need to coordinate an approach

to have the Court modify its Mediation order to specify a reasonable new Mediation schedule.

We look forward to hearing your position on this issue.

Sincerely,

Stuart N. Chelin
Attorney at Law


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