Wells Fargo Securities, LLC v. LJM Investment Fund, L.P. et al

Filing 141

ORDER, Pursuant to the status conference held today, September 9, 2021, the Court orders as follows: LJM shall produce the transcripts of interviews or depositions of any LJM employee conducted in the SEC and/or CFTC actions against LJM (the &quo t;Regulatory Actions") to the extent that those employees made statements regarding LJM's risk management protocols and procedures. Wells Fargo shall investigate whether any of its employees were interviewed or deposed in the Regulatory A ctions, whether transcripts are available, and, if so, produce the transcripts; LJM shall prioritize its production of the trading data and reports for the estimated five to ten "high volatility events" referenced in LJM's Countercl aims, with the complete range of trading data and reports to follow; LJM shall respond to Wells Fargo's interrogatories seeking the identity of any futures commissioner merchants ("FCMs") with whom LJM communicated on February 56, 2 018 concerning the transfer of its portfolio. LJM need not respond to Wells Fargo's interrogatories seeking the identity of "any other FCM that LJM internally discussed for such transfer" (ECF No. 136 at 3); The discovery schedule is extended by 30 days as follows: Deposition due by 5/18/2022., Discovery due by 12/30/2021., Motions due by 6/17/2022., Telephone Conference set for 10/7/2021 at 10:00 AM the Court's conference line. The Parties are directed to call: 866-390 -1828; access code: 380-9799, at the scheduled time. By October 1, 2021, the parties shall file a joint letter reporting on the status of discovery and outlining any issues as to which there is a dispute requiring the Courts attention. SO ORDERED. (Signed by Magistrate Judge Sarah L Cave on 9/9/21) (yv)

Case 1:18-cv-02020-LTS-SLC Document 141 Filed 09/09/21 Page 1 of 3

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
WELLS FARGO SECURITIES, LLC,
Plaintiff,
-v-

CIVIL ACTION NO.: 18 Civ. 2020 (LTS) (SLC)

LJM INVESTMENT FUND, L.P. and LJM PARTNERS,
LTD,

ORDER

Defendants.
LJM INVESTMENT FUND, L.P., LJM MASTER
TRADING FUND, L.P., LJM OFFSHORE FUND, LTD.,
and PFC-LJM PRESERVATIONS AND GROWTH
FUND, L.P.,
Counterclaimants,
-v-

WELLS FARGO SECURITIES, LLC,
Counter-Defendant
SARAH L. CAVE, United States Magistrate Judge:
Pursuant to the status conference held today, September 9, 2021, the Court orders as
follows:
1. LJM shall produce the transcripts of interviews or depositions of any LJM employee
conducted in the SEC and/or CFTC actions against LJM (the “Regulatory Actions”) to
the extent that those employees made statements regarding LJM’s risk management
protocols and procedures. Wells Fargo shall investigate whether any of its employees
were interviewed or deposed in the Regulatory Actions, whether transcripts are
available, and, if so, produce the transcripts;

Case 1:18-cv-02020-LTS-SLC Document 141 Filed 09/09/21 Page 2 of 3

2. LJM shall prioritize its production of the trading data and reports for the estimated
five to ten “high volatility events” referenced in LJM’s Counterclaims, with the
complete range of trading data and reports to follow;
3. LJM shall respond to Wells Fargo’s interrogatories seeking the identity of any futures
commissioner merchants (“FCMs”) with whom LJM communicated on February 5–6,
2018 concerning the transfer of its portfolio. LJM need not respond to Wells Fargo’s
interrogatories seeking the identity of “any other FCM that LJM internally discussed
for such transfer” (ECF No. 136 at 3);
4. By separate order, the Court will enter the Confidentiality and Stipulation and
Protective Order filed at ECF No. 140. As discussed with and agreed to by the parties
at today’s status conference, the Court inserted the phrase “and may raise any
disagreements with the Court” to Paragraph 8 of the Protective Order;
5. The discovery schedule is extended by 30 days as follows:
a. Party document discovery shall be completed by November 1, 2021;
b. Party depositions shall be completed by December 30, 2021;
c. Third-party document discovery shall be completed by December 30, 2021;
d. Third-party depositions shall be completed by March 2, 2022;
e. Opening expert reports shall be served by March 2, 2022;
f. Rebuttal expert reports shall be served by April 15, 2022;
g. Expert depositions shall be completed by May 18, 2022;
h. Motions for summary judgment shall be filed by June 17, 2022; and

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Case 1:18-cv-02020-LTS-SLC Document 141 Filed 09/09/21 Page 3 of 3

6. The Court will hold a status conference on Thursday, October 7, 2021 at 10:00 am on
the Court’s conference line. The Parties are directed to call: 866-390-1828; access
code: 380-9799, at the scheduled time. By October 1, 2021, the parties shall file a
joint letter reporting on the status of discovery and outlining any issues as to which
there is a dispute requiring the Court’s attention.
Dated:

New York, New York
September 9, 2021
SO ORDERED.

_________________________
SARAH L. CAVE
United States Magistrate Judge

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