The Southern District Court of Florida has allowed Robinhood to take additional depositions in a lawsuit related to the January 2021 short squeeze.

The relevant order was issued on January 23, 2024.

In that lawsuit, a group of traders allege that Robinhood manipulated the stock market by imposing trading restrictions at the height of the so-called Meme Stock frenzy. Robinhood intends to demonstrate that the extreme market volatility caused by retail investors’ investments in “meme stocks” led to unprecedented security requirements that required Robinhood to put the disputed trading restrictions in place.

Pursuant to the latest court order, Robinhood may take the deposition of the NSCC representative in person at a date to be agreed upon by the parties.

With respect to the deposits of the seven brokers identified in the Motion, Robinhood may receive one dealer’s deposits from each by remote or virtual means for half a day for each. Recall that the seven brokers are: Apex; Axis? Interactive Brokers; TradeStation; E*TRADE? TD/Charles Schwab and Merrill Edge.

These companies applied similar trade restrictions during the relevant period.

With respect to the depositions of the six stock issuers identified in the Motion, Robinhood may take the depositions of a representative from each by remote or virtual means, subject to the duration requirements set forth in Federal Rule of Civil Procedure 30(d)(1) ). .

The parties must endeavor to complete all filings by March 29, 2024.


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