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Robinhood, traders reach impasse on discovery in short squeeze lawsuit

Stock traders affected by the January 2021 short squeeze and Robinhood have reached an impasse on discovery matters as multi-district litigation targeting the company continues at the Florida Southern District Court.

Earlier this week, Robinhood Markets, Inc., Robinhood Financial LLC and Robinhood Securities, LLC submitted Discovery Memorandum regarding Robinhood’s Set of Requests for Production directed to Plaintiffs in the federal securities tranche of the multi-district litigation. The parties have reached an impasse on three requests.

The first request seeks “all Documents, Communications or Social Media Posts concerning Robinhood or this Action.” Plaintiffs do not dispute that these documents are relevant; rather, the…
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