🦋 $MMAT | 🧬 $NWBO
⚖️ NWBO v. Canaccord Genuity LLC, et al.
Case No. 1:22-cv-10185 (S.D.N.Y.)
📅 Filing Date: July 29, 2026
📄 Document 304 – Response to Defendants’ Motion for Reconsideration
(Filing attached below.)
⚠️ Not legal advice.
QUICK SUMMARY and in relation to MMAT: NWBO is telling the court, “Don’t just show us the trades—show us what was driving them.” So far the Court in NWBO is requiring this kind of discovery. This could be a good sign for the MMAT Trustee that courts are willing to look under the hood when questions are raised about automated trading.
🏛️ Overlapping Parties
Citadel Securities LLC
Virtu Americas LLC
🔥 Quick Highlights
✅ NWBO says the Court has already ruled the requested trading algorithms are “plainly relevant and proportional” and defendants have offered no basis for reconsideration.
🤖 Algorithms—not just trade data—are the focus. NWBO argues that order and trade records alone cannot explain why quotes appeared, disappeared, or changed. Only the underlying algorithms, source code, and quote-generation logic can answer those questions.
📚 Harrington isn’t the defense defendants claim it is. NWBO argues Harrington actually supports its position because defendants there attacked the plaintiff’s expert for not having algorithm evidence of intent. NWBO also notes the algorithms in Harrington “simply did not exist” when they were subpoenaed.
👇🤥👇🤥👇🤥👇🤥👇🤥👇🤥👇
🎭 NWBO accuses defendants of changing positions and playing “word games.” According to NWBO, defendants previously claimed they did not use algorithms to trade NWBO. Now, they acknowledge using automated trading systems, models, and routing logic—just under different terminology. 🤨 NWBO argues defendants are attempting to avoid discovery through semantics rather than substance.
🔐 Confidential doesn’t mean undiscoverable. NWBO argues existing protective orders already safeguard proprietary source code, so confidentiality is not a valid reason to withhold relevant evidence.
⸻
🦋 Why MMAT holders are watching
This filing does not decide the Meta Materials bankruptcy, but it is another example of a federal court being asked to determine whether market makers must produce the internal logic behind their automated trading systems—not just their trade records.
If NWBO succeeds in obtaining algorithm and source-code discovery, it could provide persuasive authority (though not binding precedent) for similar discovery requests in other cases where comparable issues are presented, including potential litigation connected to the MMAT bankruptcy.
https://t.co/p5Tz0KF5oP
Hey @Fidelity, I hear you say you need a Corporate Action or communication from Next Bridge Hydrocarbons before you can distribute the dividend shares you recently received.
Why can't you acknowledge a PR from Next Bridge and why won't you acknowledge that it's a 1 for 30 distribution?
Could it be that a quick glance at the number of Next Bridge shares held by your clients doesn't properly align with the number of dividend shares you received? @SECGov@FBI
Completely UNACCEPTABLE is when Ralph threatens to have you arrested for wanting to ask him what he’s doing about #MMTLP. All talk, no action for those affected. Hypocrite on full display. @fitsnews
When the Time Comes and you have to Make A Decision about your #MMTLP Position, The Bad Actors want you to make a Decision that is More Favourable To Them.
That's why they Bash, Attack and try to Depress you about your Position.
That's Why They Are Here
There's No Other Reason.
$MMTLP
Just because we have yet to receive our dividend shares, 8 days now, let us not jump to the conclusion that our broker are oversold and lying to us......
Greg will prove that soon enough.
I would KILL to be a fly on the wall in the back room with the risk management guys.
🇺🇸 President Trump @POTUS
🇺🇸 JD Vance @VP
🇺🇸 Marco Rubio @SecRubio
WE the PEOPLE of #MMTLP DEMAND TRANSPARENCY...
YOU NEED TO TALK WITH the CEO OF NextBridge Greg McCabe @nbhydrocarbons due to a
🚨 NATIONAL SECURITY RISK 🚨...
"The SHIT is going to Hit the Fan"
👇
MMTLP Big support going out to our girl @stephmase22 💪
She’ll be on The Robb Carter Show next Thursday 11:30with @TheRobbCarter & @IsaiahAscher talking MMTLP and the ongoing fight for fairness in the markets.
Let’s show up strong for her. Tune in, support, and let’s make some noise for one of the real ones in this community.
You’ve got this Steph 💪🙏❤️
#MMTLP #NWBO #GME #AMC #DJT ....
📣📣DID YOU GET YOUR NEXT BRIDGE HYDROCARBONS DIVIDEND YET❓️
NBH supplied the master ledger from the transfer agent showing that Brokers receive the dividend.
Question is did they sell shares way over the legally issued float. If so they will not have enough dividend shares to cover all their clients.
BROKERS FACILITATE THE CRIME
THEY ARE THE GATEKEEPERS‼️
$GTII I have just read @KnotLegaladvice latest filing which was in response to the Receiver’s report of 2026-07-17.
It’s a comprehensive review of the Receiver’s performance, acknowledging the good and addressing the clear shortcomings of his performance. It’s a clear rebuttal of the latest report from the Receiver. He raises numerous inconsistencies and contradictions that raise serious concerns.
Harry Truman famously said, “the buck stops here” and the Receiver should take note of that. I think the new Judge will look at this with fresh eyes and ask some serious questions on how we got to where we are.
I have tried to be fair and objective with regards to the Receiver but the recent disclosure of the 100K loan is a bridge too far. How does a company teetering on the brink of bankruptcy justify granting a loan? How is a loan initially presented as an investment in November of 2024 only to be reconstituted as a loan in July of 2026?
Richard is truly indefatigable. He has been and continues to be our last line of defence!
Thank you, good Sir!
$MMTLP
WORDS OF A TRUE WARRIOR ‼️
@realDonaldTrump this has gone on long enough, either step in or forever be known as a TRAITOR to "We The People" - be another Joe Biden or be the fckn Warrior you said to be ‼️ for 🇺🇲🇺🇲🇺🇲