It was reported yesterday that a Florida court dismisses the case against Citadel and Robinhood, which was brought alleging collusion between the companies which led to the Buy button being turned off (and the subsequent dumping of the stock). We have frequently talked about this case, and how it relates to Ken Griffin allegedly lying to the house financial committee in February.
Basically, the long and short of it was that the court said there wasn't sufficient evidence to find in the plaintiff's favour, and the case was dismissed, but WITHOUT PREJUDICE, meaning that the petitioners have another month to re-file, hopefully with new and more compelling evidence.
The dismissal appears to revolve around the fact that the emails and calls reference in internal communications unfortunately did not provide evidence of actually what was discussed. Effectively the judge is leaving the door open, but it's not really likely that this evidence will be able to be provided unless some whistleblower happened to record the calls and is prepared to leak them. Hey, if you're a whistleblower, and you can provide this, please feel free to reach out to us.
In it's final summing granting the motion to dismiss, the court said:
Admittedly, these emails may be somewhat suspicious given the participants and their timing. But are a few vague and ambiguous emails between two firms in an otherwise lawful, ongoing business relationship enough to “nudge[] [Plaintiffs’] claims across the line from conceivable to plausible[?]”
Court ruling in CASE NO. 21-2989-MDL
You can view the entire ruling from the court here.
Matt Kohrs provides a nice run down of why the case against Citadel and Robinhood and their friends for collusion in the January 2021 memestock saga has been dismissed. Original video on YouTube here.
As court dismisses the case against Citadel and Robinhood, Apes regroup for the next battle
So, whilst we are disappointed in the news that the Florida court dismisses the case against Citadel and Robinhood, we are heartened by two things.
Firstly, the cat is out of the bag. There are now MILLIONS of eyes on Ken Griffin and his friends, and ridiculous amounts of DD being done every day, uncovering and exposing alleged wrongdoings in the financial system, and secondly that this case encouraged more and more people to get involved, learning about and telling their friends and family about the skullduggery of the financial elites. We may have lost this one battle(for now), but Ape Nation knows we will eventually win the war.
This information is not financial or legal advice, and is presented for entertainment purposes only. See more about the community at KenGriffinLies.com