Reddy et al v. LongFin Corp. et al

Filing 202

ORDER: The Court having received the plaintiff's submissions of April 24, 2020, it is hereby ORDERED that a telephone conference is scheduled for May 1, 2020 at 9:00 am. The dial-in credentials for the telephone conference are as follows: Dia l-in: 888-363-4749 Access code: 4324948 The parties shall use a landline if one is available. IT IS FURTHER ORDERED that the Securities and Exchange Commission ("SEC") is invited, but not required, to participate in the May 1 telephone conference in order to aid in the Courts understanding of these issues. (And as further set forth herein.) (Telephone Conference set for 5/1/2020 at 09:00 AM before Judge Denise L. Cote.) (Signed by Judge Denise L. Cote on 4/27/2020) (jca)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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IN RE LONGFIN CORP. SECURITIES CLASS
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ACTION LITIGATION
:
:
:
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18cv2933 (DLC)
ORDER

DENISE COTE, District Judge:
The Court having received the plaintiff’s submissions of
April 24, 2020, it is hereby
ORDERED that a telephone conference is scheduled for May 1,
2020 at 9:00 am.

The dial-in credentials for the telephone

conference are as follows:
Dial-in:
Access code:

888-363-4749
4324948

The parties shall use a landline if one is available.
IT IS FURTHER ORDERED that plaintiff’s counsel shall be
ready to address the following questions:
(1)

What is the likelihood of recovery in this action from
defendants Longfin Corp., Venkata S. Meenavalli, Vivek
K. Ratakonda, and Suresh Tammineedi?

(2)

Why shouldn’t the claims against defendants Dorababu
Penumarthi and Andy Altahawi be dismissed with
prejudice?

(3)

How does counsel expect to obtain payment of
attorney’s fees?

(4)

Has the plaintiff shown, pursuant to Rule 23(b)(3),
that a class action is superior to other available
methods for fairly and efficiently adjudicating this
controversy, where a class action judgment will
benefit the defendants but there is little likelihood
of any benefit to the class?

IT IS FURTHER ORDERED that the Securities and Exchange
Commission (“SEC”) is invited, but not required, to participate
in the May 1 telephone conference in order to aid in the Court’s
understanding of these issues.
Dated:

New York, New York
April 27, 2020
__________________________________
DENISE COTE
United States District Judge

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