Lunai Bioworks, Inc. v. Lightspeed Financial Services Group LLC, et al.
| Lunai Bioworks, Inc. |
| Chong Fatt Ng, Varsity Tech Ltd, Basil Housewright, Quaintoo Inc, Ezra Grothe, Zachary Goldberg, Samuel Oh, Brian Sullivan, Alvis Leong Wei Shen, 13 Trading LLC, Carl Eguez, Runfree JTS LLC, Lee Bryon, Suman Chepuri, Hunter Snyder, Vivek Dandare, Roman Sterlin, Bearish Ventures LLC, Michael Lee, Kenichi Fujise, Arcadia Analytics LLC, Lawrence Fehrenbaker, Zwick Trading Group LLC, Quants Edge Capital LLC, Jeffrey Lynn, Jacob Chupick, Elham Hamin, Jared Garcia, Matthew Hope, Madilyn Le, Chin Zhi You, Jacob Lee, Cong Zhao, Hudson Trades LLC, Igor Korzha, Yew Chee Huat, Dennis Korzha, Dustin Olyan, Louis Lemberger, Jiping Hu, Kyle Spivey, Epic Edge Trading OY, Tatiana Korzha, Lloyd Atkinson, Trading in Securities Oporto Delta, Mher Danielyan, Tamara Groen, Mohamed Faye, Mearas Capital LLC, Michael Picone, Glen Raymond Loupias, Julie Alen, Gavin Zhi Long, Lakeside Algo Fund LP, Mirza Taimuri, Wen Biao Ng, Clinton Hillegass, Janet Lynn, Yi Hao Tan, Varsity Tech Pte. Ltd., SSP Capital Ltd, Jiwhan Cho, Vijnish Treohan, Jennifer Powell, Rong Quan, Calystrum FZCO, Williams Kapital LLC, Arnold Lau Guo Zhong, QuantBrix, LLC, George Huckstepp, Cong Hao Wang, JTL Capital Enterprises LLC, Anurag Vaddi Reddy, Taejong Kim, Sin Wee Nelson Lim, Michael Donovan, John Finkbeiner, Amin Golestan, Provence Sophice SAS, AM Technologies Limited, CSZ Quantitative LLC, Ramon Paulus Jozef Veltmeijer, Ricardo Solano, Edwin Hinds, Jr., SCS Triangles LLC, Daniyar Nurbayev, Jason Tian Ching Ng, Xiaoli Zhang, Christopher Seaman, Alexander Odom, Joseph Guevarra, Eschunk Trades LLC, Alexander Korzha, Benjamin Scheffler, Thi Thu Nguyen, Yu Miao, Krzysztof Mariusz Wiklinski, Richard Clark Webb, Goat Machine LLC, Yash Kamat, Aaron Tu Schmaltz, Christian Favale, Yuwei Wang, Alejandro Felipe Morais Tejerina, Alfredo Alejandro Carrero Hurtado, Ernesto Riobo, Kristian Kurzyna, Chen Li, Adam Gefvert, Dmitry Smirnoff, Mockingbird Equity II LLC, Munaf Khatumbra, Bala Anand Vaddi Reddy, Mate Hegedus, See Lee Tan, Alan Ang, Shuk Yee Ho, Suhua Guo, See Hwa Tan, Evelyn Ow, Carbon Capital Fund Usaldusfond, Smiles Trading LLC, Hyo Jin Chun, Slav Iliyanov Sariyski, Viper Trading OY, Gabriel Bonamigo, Calvin Nguyen, CS Trades LLC, Alveria Capital Ltd, Prateek Kumar, Abhinand Reddy Vaddi Reddy, HQS Ltd, Naiden Borimechkov, Derek Cheng, TakeChip 2 LLC, Rico Boone, Leo Tanner, TopXInvest LLC, Matthew Hofman, Owl Hill Capital LLC, Keven Yee, Bo Kang Zeng, Pradeep K Vallandas, Omar Bekturov, Hongpeng Pan, Dean E Schmaltz, Tyler J. Wasserman, Sandy Wong, William Edward Gonet, Chadd Thomas Hessing, Opal Securities, Inc., Cobra Trading, Inc., Lightspeed Financial Services Group LLC, SageTrader, LLC, Hold Brothers Capital, LLC, Eternalenvy LLC FZ, Bisoke, LLC, Tyler H. Kling, Quant Lab SFO FZCO, Wojciech Malecki, Marlena Kraska, Edward T. Griesedieck, Seven Points Capital, LLC, XYZ LLCs 28-77, Roe Corporations 15-64 and Does 123-172 |
| 1:2026cv00549 |
| May 11, 2026 |
| U.S. District Court for the District of Delaware |
| Colm F. Connolly |
| Securities/Commodities |
| 15 U.S.C. § 78 m(a) Securities Exchange Act |
| Plaintiff |
Docket Report
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| Document Text |
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| Pro Hac Vice Attorney Ashwin J. Ram for Bisoke, LLC added for electronic noticing. Pursuant to Local Rule 83.5 (d)., Delaware counsel shall be the registered users of CM/ECF and shall be required to file all papers. (slk) |
SO ORDERED, re #51 MOTION for Pro Hac Vice Appearance of Attorney James S. Rigberg, filed by Lunai Bioworks, Inc. Ordered by Judge Colm F. Connolly on 10/21/2026. (kmd)
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| Remark: $50 payment received on 10/20/2026 for #51 MOTION for Pro Hac Vice Appearance of Attorney James S. Rigberg - filed by Lunai Bioworks, Inc. Receipt No. ADEDC-5093726. (kmd) |
| Filing 51 MOTION for Pro Hac Vice Appearance of Attorney James S. Rigberg - filed by Lunai Bioworks, Inc.. (Liebesman, Sidney) |
| Filing 50 REQUEST for Oral Argument by Bisoke, LLC. (Torrice, Noelle) |
| DEFICIENCY NOTICE by the Court issued to Bisoke, LLC re #48 Reply Brief: Pursuant to the Court's Standing Order Regarding Briefing in All Cases, dated November 10, 2022, "[t]he covers of briefs filed in connection with all motions except for motions in limine included in a pretrial order shall be as follows: i. Opening Brief - Blue; ii. Answering Brief - Red; iii. Reply Brief - Gray." Courtesy copies of D.I. #48 are not in compliance with the Court's standing order. Please resubmit courtesy copies of your brief with the corrected covers. (mws) |
| Filing 49 NOTICE of Appearance by Juan E Martinez on behalf of Bisoke, LLC (Martinez, Juan) |
| Filing 48 REPLY BRIEF re #41 MOTION to Dismiss for Failure to State a Claim Plaintiff's Second Amended Complaint filed by Bisoke, LLC. (Attachments: #1 Certificate of Compliance, #2 Certificate of Service)(Torrice, Noelle) |
| Filing 47 NOTICE of Appearance by Noelle Briana Torrice on behalf of Bisoke, LLC (Torrice, Noelle) |
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SO ORDERED, re #45 MOTION for Pro Hac Vice Appearance of Attorney Ashwin J. Ram, filed by Bisoke, LLC. Ordered by Judge Colm F. Connolly on 9/16/2026. (kmd)
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| Filing 46 Pro Hac Vice Fee - Credit Card Payment received for Ashwin J. Ram. ( re #45 MOTION for Pro Hac Vice Appearance of Attorney Ashwin J. Ram )( Payment of $ 50, receipt number ADEDC-5066311).(Cramer, Kristen) |
| Filing 45 MOTION for Pro Hac Vice Appearance of Attorney Ashwin J. Ram - filed by Bisoke, LLC. (Cramer, Kristen) |
| Filing 44 ANSWERING BRIEF in Opposition re #41 MOTION to Dismiss for Failure to State a Claim Plaintiff's Second Amended Complaint filed by Lunai Bioworks, Inc..Reply Brief due date per Local Rules is 9/16/2026. (Liebesman, Sidney) |
| Filing 43 Disclosure Statement pursuant to Rule 7.1: No Parents or Affiliates Listed filed by Bisoke, LLC. (Attachments: #1 Certificate of Service)(Cramer, Kristen) |
| Filing 42 OPENING BRIEF in Support re #41 MOTION to Dismiss for Failure to State a Claim Plaintiff's Second Amended Complaint filed by Bisoke, LLC.Answering Brief/Response due date per Local Rules is 9/18/2026. (Attachments: #1 Certificate of Service)(Cramer, Kristen) |
| Filing 41 MOTION to Dismiss for Failure to State a Claim Plaintiff's Second Amended Complaint - filed by Bisoke, LLC. (Attachments: #1 Text of Proposed Order, #2 Certificate of Service)(Cramer, Kristen) |
| Remark: Parties updated and corrected per D.I. 37 . (mws) |
| Filing 40 REDACTED VERSION of Plaintiff's Second Amended Complaint by Lunai Bioworks, Inc.. (Liebesman, Sidney) |
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Filing 39
ORDER granting #38 Plaintiff's MOTION for Leave to File Second Amended Complaint Under Seal. Signed by Judge Colm F. Connolly on 8/28/2026. (kmd)
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| Filing 38 Plaintiff's MOTION for Leave to File Second Amended Complaint Under Seal - filed by Lunai Bioworks, Inc. (Attachments: #1 Text of Proposed Order)(jfm) |
| Remark: D.I. 37 has been sealed per counsel's request. Counsel is directed to file a Motion to Seal the Second Amended Complaint. (kmd) |
| Filing 36 Summons Issued as to Seven Points Capital, LLC on 8/12/2026. (lah) |
| Filing 35 Summons Issued as to Edward T Griesedieck on 8/11/2026. (lah) |
| Filing 34 Summons Issued as to Bisoke LLC on 8/7/2026; Edward T Griesedieck on 8/7/2026; Hold Brothers Capital, LLC on 8/7/2026; Tyler H Kling on 8/7/2026; Sagetrader LLC on 8/7/2026; Seven Points Capital, LLC on 8/7/2026. (Attachments: #1 Summons Issued, #2 Summons Issued, #3 Summons Issued, #4 Summons Issued, #5 Summons Issued)(mrr) |
| Filing 33 First AMENDED COMPLAINT against All Defendants - filed by Lunai Bioworks, Inc.. (Attachments: #1 Civil Cover Sheet Amended Civil Cover Sheet)(Liebesman, Sidney) |
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Filing 32
ORAL ORDER: The Court, having reviewed Plaintiffs July 10, 2026 letter, (D.I. #31 ), hereby ORDERS that Plaintiffs Emergency Motion to Compel Compliance with Third-Party Subpoena Directed to Citadel Securities, LLC, (D.I. #23 ), is DENIED as MOOT. Ordered by Judge Christopher J. Burke on 07/13/2026. (sam)
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| Filing 31 Letter to The Honorable Christopher J. Burke from Sidney S. Liebesman Attorney for Lunai Bioworks, Inc. regarding Reply Letter Brief - re #23 Emergency MOTION to Compel Compliance with Third-Party Subpoena Directed to Citadel Securities lLC, 24 Oral Order,,,,,,, #30 Letter,. (Liebesman, Sidney) |
| Filing 30 Letter to Honorable Christopher J. Burke from Veronica B. Bartholomew regarding Opposition to Plaintiff Lunai Bioworks, Inc.'s Emergency Motion to Compel (D.I. 23) - re #23 Emergency MOTION to Compel Compliance with Third-Party Subpoena Directed to Citadel Securities lLC. (Attachments: #1 Exhibit 1, #2 Exhibit 2)(Bartholomew, Veronica) |
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Filing 29
ORAL ORDER: The Court, having reviewed the July 9, 2026 letter, (D.I. #28 ), hereby ORDERS that Plaintiff's Emergency Motion to Compel Compliance with Third-Party Subpoena Directed to Goldman Sachs & Co., LLC, (D.I. #9 ), is DENIED as MOOT. Ordered by Judge Christopher J. Burke on 07/09/2026. (sam)
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| Filing 28 Letter to The Honorable Christopher J. Burke from Sidney S. Liebesman Attorney for Lunai Bioworks, Inc. regarding Joint Status Letter - re 25 Oral Order,,,,. (Liebesman, Sidney) |
| Filing 27 CERTIFICATE OF SERVICE of Oral Order Regarding Plaintiff Lunai Bioworks, Inc.'s Emergency Motion to Compel Compliance with Third-Party Subpoena Directed to Goldman Sachs & Co., LLC by Lunai Bioworks, Inc. re 25 Oral Order,,,, (Cinaglia, Carmella) |
| Filing 26 CERTIFICATE OF SERVICE of Oral Order Regarding Plaintiff Lunai Bioworks, Inc.'s Emergency Motion to Compel Compliance with Third-Party Subpoena Directed to Citadel Securities LLC by Lunai Bioworks, Inc. re 24 Oral Order,,,,,,, (Cinaglia, Carmella) |
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Filing 25
ORAL ORDER: The Court, having reviewed Plaintiff and third party Goldman Sachs & Co., LLCs (Goldman) briefing, (D.I. #9 ; D.I. #20 ; D.I. #22 ), regarding Plaintiffs motion to compel (Motion), (D.I. #9 ), hereby ORDERS as follows: (1) By no later than July 9, 2026, absent further order of the Court, the parties shall file a joint status letter of no more than three single-spaced pages, in which they advise the Court as to: (a) what documents sought by Plaintiff has Goldman produced as of that date; (b) what sought-after documents has Goldman committed to produce in the future (and by when); and (c) whether there is any remaining still-disputed portion of the Motion for the Court to resolve (and if so, what documents that dispute implicates).; (2) To the extent any dispute remains as of July 9, the Court will be prepared to resolve the Motion thereafter.; and (3) Plaintiff shall serve a copy of this Order on Goldman as soon as is practicable and in any event no later than by July 6, 2026, and file a proof of service. Ordered by Judge Christopher J. Burke on 07/02/2026. (sam)
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Filing 24
ORAL ORDER: The Court, having reviewed Plaintiffs Emergency Motion to Compel Compliance with Third-Party Subpoena Directed to Citadel Securities LLC (Citadel) (Motion), (D.I. #23 ), hereby ORDERS as follows: (1) By July 9, 2026, third-party respondent Citadel may file a responsive letter brief, not to exceed four (4) single-spaced pages, in no less than 12-point font, outlining its reasons for its opposing the Motion.; (3) By July 13, 2026, Plaintiff shall file with the Court a reply letter brief, not to exceed two (2) single-spaced pages, in no less than 12-point font.; (4) The parties should also consult and follow Judge Burkes Guidelines for Discovery Disputes, which is found in the Guidelines tab on Judge Burkes portion of the District Courts website. And at least one side should attach a copy of the actual subpoena at issue to their brief.; (5) The Court will plan to resolve the dispute on the papers, unless: (a) it determines after reviewing the briefing that oral argument is needed; or (b) any party advises the Court in advance that, were argument to be set, a newer attorney will argue the dispute(s), see Standing Order Regarding Courtroom Opportunities for Newer Attorneys, #https://www.ded.uscourts.gov/sites/ded/files/StandingOrder2017.pdf. If either of those circumstances occurs, then the Court will schedule oral argument on the dispute(s) in the future.; and (6) Plaintiff shall serve a copy of this Order on Citadel as soon as is practicable and in any event no later than by July 6, 2026, and file a proof of service. Ordered by Judge Christopher J. Burke on 07/02/2026. (sam)
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ORAL ORDER: The Emergency Motion to Compel Compliance with Third-Party Subpoena Directed to Citadel Securities LLC (D.I. #23 ) is hereby REFERRED to Magistrate Judge Christopher J. Burke. Ordered by Judge Colm F. Connolly on 7/1/2026. Motions referred to Christopher J. Burke. (mws)
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| Filing 23 Emergency MOTION to Compel Compliance with Third-Party Subpoena Directed to Citadel Securities lLC - filed by Lunai Bioworks, Inc.. (Attachments: #1 Exhibit A, #2 Text of Proposed Order) Motion referred to Christopher J. Burke. (Liebesman, Sidney) Modified on 7/1/2026 (mws). |
| Filing 22 Letter to Magistrate Judge Christopher J. Burke from Sidney S. Liebesman regarding Reply Letter Brief - re 16 Oral Order,,,,,, #20 Letter, #9 Emergency MOTION to Compel Compliance with Third-Party Subpoena Directed to Goldman Sachs & Co., LLC. (Liebesman, Sidney) |
| Filing 21 CERTIFICATE OF SERVICE of Stipulated Protective Order Governing Third-Party Discovery Productions by Lunai Bioworks, Inc. re #19 Order on Motion for Protective Order (Cinaglia, Carmella) |
| Filing 20 Letter to The Honorable Christopher J. Burke from Kelly E. Farnan, Esq. regarding Response to Motion to Compel - re #9 Emergency MOTION to Compel Compliance with Third-Party Subpoena Directed to Goldman Sachs & Co., LLC. (Farnan, Kelly) |
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Filing 19
STIPULATED PROTECTIVE ORDER. Plaintiff shall serve a copy of this Order on relevant third parties by June 23, 2026, and file a proof of service. Signed by Judge Christopher J. Burke on 06/22/2026. (sam)
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| Filing 18 Letter to Magistrate Judge Christopher J. Burke from Sidney S. Liebesman regarding enclosing agreed-upon protective order - re 17 Oral Order,,,. (Attachments: #1 Text of Proposed Order)(Liebesman, Sidney) |
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Filing 17
ORAL ORDER: The Court, having reviewed Plaintiffs Emergency Motion for Protective Order and Confidentiality Agreement Governing Documents Produced in Response to Rule 45 Subpoenas (Motion), (D.I. #10 ), and the June 12, 2026 letter filed by Citadel Securities LLC, Virtu Americas LLC, and UBS Securities LLC (the Subpoena Recipients), (D.I. #15 ), hereby ORDERS that by no later than June 18, 2026, Plaintiff and the Subpoena Recipients shall meet and confer to address the issues identified in the Motion and letter, and determine whether there are any remaining disputes that require judicial attention at this time. Plaintiff and the Subpoena Recipients shall file a joint letter with the Court by that same date describing the results of those efforts, including whether a briefing schedule need be set. Ordered by Judge Christopher J. Burke on 6/15/2026. (mlc)
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Filing 16
ORAL ORDER: The Court, having reviewed Plaintiffs Emergency Motion to Compel Compliance with Third-Party Subpoena Directed to Goldman Sachs & Co., LLC (Goldman Sachs) (Motion), (D.I. #9 ), hereby ORDERS as follows: (1) By June 22, 2026, third-party respondent Goldman Sachs may file a responsive letter brief, not to exceed four (4) single-spaced pages, in no less than 12-point font, outlining its reasons for its opposition to the Motion.; (3) By June 24, 2026, Plaintiff shall file with the Court a reply letter brief, not to exceed two (2) single-spaced pages, in no less than 12-point font.; (4) The parties should also consult and follow Judge Burkes Guidelines for Discovery Disputes, which is found in the Guidelines tab on Judge Burkes portion of the District Courts website (and at least one side should attach a copy of the actual subpoena at issue to their brief).; (5) The Court will plan to resolve the dispute on the papers, unless: (a) it determines after reviewing the briefing that oral argument is needed; or (b) any party advises the Court in advance that, were argument to be set, a newer attorney will argue the dispute(s), see Standing Order Regarding Courtroom Opportunities for Newer Attorneys, https://www.ded.uscourts.gov/sites/ded/files/StandingOrder2017.pdf. If either of those circumstances occurs, then the Court will schedule oral argument on the dispute(s) in the future.; and (6) Plaintiff shall serve a copy of this Order on Goldman Sachs by June 16, 2026, and file a proof of service. Ordered by Judge Christopher J. Burke on 6/15/2026. (mlc)
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SO ORDERED, re #13 MOTION for Pro Hac Vice Appearance of Attorney Peter H. Fountain filed by Citadel Securities LLC. Ordered by Judge Colm F. Connolly on 6/15/2026. (mws)
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| Filing 15 Letter to the Honorable Christopher J. Burke from Veronica B. Bartholomew regarding Response to Plaintiff's Emergency Motion at D.I. 10 - re #10 Emergency MOTION for Protective Order and Confidentiality Agreement Governing Documents Produced in Response to Rule 45 Subpoenas. (Bartholomew, Veronica) |
| Filing 14 Pro Hac Vice Fee - Credit Card Payment received for Peter H. Fountain. ( re #13 MOTION for Pro Hac Vice Appearance of Attorney Peter H. Fountain )( Payment of $ 50, receipt number ADEDC-4992033).(Bartholomew, Veronica) |
| Filing 13 MOTION for Pro Hac Vice Appearance of Attorney Peter H. Fountain - filed by Citadel Securities LLC. (Bartholomew, Veronica) |
| Filing 12 NOTICE of Appearance by Veronica Badway Bartholomew on behalf of Citadel Securities LLC (Bartholomew, Veronica) |
| Filing 11 CERTIFICATE OF SERVICE of Plaintiff's Emergency Motion to Compel Compliance with Third-Party Subpoena Directed to Goldman Sachs & Co, LLC by Lunai Bioworks, Inc. re #9 Emergency MOTION to Compel Compliance with Third-Party Subpoena Directed to Goldman Sachs & Co., LLC (Liebesman, Sidney) |
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ORAL ORDER: The Emergency Motion to Compel Compliance with Third-Party Subpoena (D.I. #9 ) and Emergency Motion for Entry of a Protective Order and Confidentiality Agreement (D.I. #10 ) are hereby REFERRED to Magistrate Judge Christopher J. Burke. Ordered by Judge Colm F. Connolly on 6/10/2026. Motions referred to Christopher J. Burke. (mws)
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| Remark: The parties should be aware that the Court encourages the participation of newer attorneys in courtroom proceedings and at oral argument. Please see the Court's Standing Order Regarding Courtroom Opportunities for Newer Attorneys, a link to which is provided here for the parties' convenience:#http://www.ded.uscourts.gov/sites/ded/files/forms/StandingOrder2017.pdf (sam) |
| Remark: The parties should follow the Court's Standing Order Regarding Courtesy Copies, a copy of which is found on Judge Burke's portion of the District Court's webpage: #https://www.ded.uscourts.gov/sites/ded/files/CJBCC2022.pdf. (sam) |
| Filing 10 Emergency MOTION for Protective Order and Confidentiality Agreement Governing Documents Produced in Response to Rule 45 Subpoenas - filed by Lunai Bioworks, Inc.. (Attachments: #1 Text of Proposed Order)(Liebesman, Sidney) Motion referred to Christopher J. Burke. Modified on 6/10/2026 (mws). |
| Filing 9 Emergency MOTION to Compel Compliance with Third-Party Subpoena Directed to Goldman Sachs & Co., LLC - filed by Lunai Bioworks, Inc.. (Attachments: #1 Exhibit Exhibits A-D, #2 Text of Proposed Order Proposed Order)(Liebesman, Sidney) Motion referred to Christopher J. Burke. Modified on 6/10/2026 (mws). |
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Filing 8
ORAL ORDER: The Court, having reviewed Plaintiffs Emergency Ex Parte Motion for Leave to Engage in Expedited Limited Third-Party Discovery (Motion), (D.I. #7 ), hereby ORDERS that the Motion is GRANTED for the reasons that follow: (1) To determine whether it is appropriate to permit discovery before the Fed. R. Civ. P. 26(f) conference, this Court has applied a good cause standard to assess whether the request is reasonable in light of the relevant circumstances, focusing on factors (the Kone factors) including: (a) the timing and context of the discovery requests, (b) the scope and purpose of the requests, and (c) the nature of the burden to the respondent. Kone Corp. v. ThyssenKrupp USA, Inc., Civ. Action No. 11465LPSCJB, 2011 WL 4478477, at *4 (D. Del. Sept. 26, 2011). And then additionally, where expedited discovery is sought in order to identify unknown or anonymous John Doe defendants[ as here,] this Court and other courts have examined whether that discovery should be permitted (and/or whether good cause exists) by first asking whether the plaintiff has established a prima facie case for each essential element of the claim(s) in question. Reybold Grp. of Cos., Inc. v. Does 1-20, 323 F.R.D. 205, 208 (D. Del. 2017). Only if the plaintiff has made this prima facie showing will the Court additionally go on to consider whether the plaintiff has demonstrated [a] that it has no other way to identify the alleged wrongdoers, aside from obtaining the discovery at issue[,] or [b] that expedited discovery is necessary because evidence identifying the defendants may be otherwise destroyed[.] Id.; (2) Here, as an initial matter (at least at this early stage, without having had the benefit of an adversarial presentation), it appears that Plaintiff has made a prima facie showing for each element of at least Counts I and/or II of the three counts included in the Complaint, via the detailed allegations it made regarding an alleged scheme involving naked short selling and manipulative trading intended to depress [Plaintiffs] stock price[.] (D.I. 7 at 7-8 (citing D.I. 1 at 2-3, 7, 42, 48-60, 62-69, 91-105, 108)); see GFL Advantage Fund, Ltd. v. Colkitt, 272 F.3d 189, 203-07 & n.6 (3d Cir. 2001) (discussing the elements of and pleading requirements for a claim for market manipulation under Sections 9(a) and 10(b) of the Securities Exchange Act of 1934); FNY Partners Fund LP v. Capri Holdings Ltd., No. 24-1410, 2026 WL 873329, at *5 (D. Del. Mar. 31, 2026) (discussing the elements of a claim for securities fraud pursuant to Section 10(b) premised upon false statements or omissions). Plaintiff has also made a plausible argument as to why the third-party discovery sought is the only way to obtain the information at issue (i.e., documents meant to identify participants involved in the alleged naked short selling scheme, and information relating to the participants conduct). Plaintiff asserts that this type of information is uniquely held by market infrastructure entities and market participants. (D.I. 7 at 8 (citing D.I. 1 at 4, 41-45, 48-60, 72-83, 91-105)) On that front, Plaintiff described its efforts (and subsequent failure) to identify potential Defendants through publicly-available records, which only further supports Plaintiffs assertion that there are no alternative means for doing so other than via the discovery at issue. (Id.); (3) The Court also addresses the Kone factors. The timing and context factor supports the Motion. There, Plaintiff asserts that trading anomalies related to its common stock have taken place as recently as May 4, 2026, persuasively suggesting the ongoing nature of the harm caused by the alleged misconduct (and thus, the need for emergent discovery to try to address that harm). (D.I. 7 at 6 (citing D.I. 1 at 90)) Additionally, Plaintiff also stresses the importance of identifying any alleged wrongdoers in advance of its June 1, 2026 hearing before administrators of the Nasdaq Stock Market, who will be determining whether or not to delist Plaintiffs stocka hearing that is allegedly a direct consequence of the instant naked short sale scheme. (Id. at 2-3, 6 (citing D.I. 1 at 95, 97, 100)) As for the scope and purpose of the requests factor and the burden factor, the record seems more of a mixed bag. On the one hand, most or all of the records sought appear relevant to the allegations in the Complaint. And in terms of scope, the requests seem at least focused only on discovering information related to transactions involving: (a) one entitys (i.e., Plaintiffs) stock; (b) during a specific, defined time period wherein Plaintiff has alleged that trading anomalies and market manipulation occurred (i.e., November 1, 2025 to May 11, 2026). (D.I. 7 at 6-8) Yet on the other hand, the scope of the requests goes beyond just seeking to identify wrongdoersin that the requests seem to seek any document at all related to transactions involving Plaintiffs stock during the relevant time period. (Id., ex. A) And so in that way, the requests seem very broad, which could of course amount to a burden to the targets of the requested discovery. With all of that said, without the benefit of an adversarial presentation the Court is not well-positioned to further narrow the proposed requests at this point. (Presumably, though, undue breadth could be negotiated away or challenged by the discovery targets at a later time, if appropriate.); (4) Lastly, the Court agrees with Plaintiff that any implicated privacy interests of Defendants can be later protected in various ways, if need be. (D.I. 7 at 9); see also Reybold Grp. of Cos., 323 F.R.D. at 209.; and (5) Therefore, with many of the relevant considerations supporting leave for Plaintiff to conduct the requested discovery at issue, the Court will grant the Motion. Ordered by Judge Christopher J. Burke on 5/20/2026. (mlc)
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| Filing 7 Emergency MOTION to Expedite Limited Third-Party Discovery - filed by Lunai Bioworks, Inc.. (Attachments: #1 Exhibit A, #2 Text of Proposed Order)(Liebesman, Sidney) Motion referred to Magistrate Judge Christopher J. Burke. Modified on 5/18/2026 (mws). |
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ORAL ORDER: The Emergency Motion to Expedite Limited Third-Party Discovery (D.I. #7 ) is hereby REFERRED to Magistrate Judge Christopher J. Burke. Ordered by Judge Colm F. Connolly on 5/18/2026. (mws)
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| Filing 6 Pro Hac Vice Fee - Credit Card Payment received for Jacob S. Frenkel. ( re #5 MOTION for Pro Hac Vice Appearance of Attorney Jacob S. Frenkel )( Payment of $ 50, receipt number ADEDC-4969688).(Liebesman, Sidney) |
| Filing 5 MOTION for Pro Hac Vice Appearance of Attorney Jacob S. Frenkel - filed by Lunai Bioworks, Inc.. (Liebesman, Sidney) |
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SO ORDERED, re #5 MOTION for Pro Hac Vice Appearance of Attorney Jacob S. Frenkel, filed by Lunai Bioworks, Inc. Ordered by Judge Colm F. Connolly on 5/14/2026. (kmd)
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| Filing 4 JUDGE COLM F. CONNOLLY STANDING ORDERS. Parties shall comply with all applicable standing orders and consult the Court's website for updates. (mws) |
| Case Assigned to Judge Colm F. Connolly. Please include the initials of the Judge (CFC) after the case number on all documents filed. (nms) |
| Filing 3 Disclosure Statement pursuant to Rule 7.1: No Parents or Affiliates Listed filed by Lunai Bioworks, Inc.. (Liebesman, Sidney) |
| Filing 2 Notice, Consent and Referral forms re: U.S. Magistrate Judge jurisdiction. (oam) |
| Filing 1 COMPLAINT with Jury Demand against Does 1-50, Roe Corporations 1-50, XYZ LLCs 1-50 (Filing fee $ 405, receipt number ADEDC-4967362) - filed by Lunai Bioworks, Inc.. (Attachments: #1 Civil Cover Sheet)(oam) |
| No Summons Issued. (oam) |
| DEFICIENCY NOTICE issued by the Court to Plaintiff: Pursuant to Fed. R. Civ. P. 7.1 (b)(1), A party must: (1) file the disclosure statement with its first appearance, pleading, petition, motion, response, or other request addressed to the court. Counsel is requested to supplement the docket with an appropriate Rule 7.1 Disclosure Statement. (oam) |
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