UNITED STATES DISTRICT COURT WESTERN DISTRICT OF WASHINGTON SEATTLE DIVISION

UNITED STATES DISTRICT COURT WESTERN DISTRICT OF WASHINGTON SEATTLE DIVISION
SUBPOENA TO PRODUCE DOCUMENTS, INFORMATION, OR OBJECTS IN A CIVIL ACTION
(Adapted from Form AO 88A / AO 88B)
I. Issuing Court Information
Issuing Court: United States District Court for the Western District of Washington
Court Address: 700 Stewart Street, Seattle, WA 98101
Case Number: 2:25-cv-01087-RAJ
Case Caption: Federal Trade Commission v. Cascade Retail Holdings Inc. and Pinnacle Market Group Inc.
II. Identity of the Party Issuing the Subpoena
This Subpoena Duces Tecum is issued on behalf of Defendants Cascade Retail Holdings Inc. and Pinnacle Market Group Inc. by and through their undersigned counsel of record.
Prepared by:
Aaron Liu, Associate Calderwood & Harkness LLP 555 California Street, Suite 2700 San Francisco, CA 94104 Telephone: (415) 782-4400 Facsimile: (415) 782-4401
Email: aliu@calderwoodharkness.com
Responsible Partner:
Howard Bellamy, Partner Calderwood & Harkness LLP 1401 K Street NW, Suite 1200 Washington, D.C. 20005 Telephone: (202) 661-8800 Facsimile: (202) 661-8801
Email: hbellamy@calderwoodharkness.com
Calderwood & Harkness LLP serves as lead counsel of record for Defendant Cascade Retail Holdings Inc. in the above-captioned matter. Mr. Liu appears by admission pro hac vice in the Western District of Washington pursuant to the Order Granting Pro Hac Vice Admission entered on June 2, 2025 (Dkt. No. 34).
III. Recipient / Entity Commanded
TO:
Nomad Shops LLC 45 Main Street, Suite 700 Brooklyn, NY 11201
Nomad Shops LLC is a Delaware limited liability company that operates a curated artisan and small-business online marketplace platform. According to the Federal Trade Commission's Complaint filed in this action at paragraph 42, Nomad Shops LLC holds approximately 14.6% of U.S. online marketplace platform gross merchandise value ("GMV"). Nomad Shops LLC is a non-party to this litigation but possesses documents and electronically stored information relevant to the claims and defenses at issue in this case.
IV. Command
YOU ARE HEREBY COMMANDED, pursuant to Federal Rule of Civil Procedure 45, to produce the documents and electronically stored information ("ESI") described in Attachment A (Schedule of Document Requests) to the offices of:
Calderwood & Harkness LLP 555 California Street, Suite 2700 San Francisco, CA 94104
Attention: Aaron Liu
or, alternatively, via secure electronic transfer to a designated document repository, the access credentials for which will be provided by counsel for Defendants upon request by Nomad Shops LLC or its counsel.
Date for Compliance: Production shall be made on or before the date that is twenty-one (21) days following service of this Subpoena upon Nomad Shops LLC.
Scope of Command: This Subpoena commands production of documents and ESI only. No testimony or deposition attendance is commanded at this time. Defendants reserve all rights to seek testimony from Nomad Shops LLC, its officers, directors, members, managers, employees, or agents by separate subpoena or by agreement of the parties.
Format of Production: Production may be made in electronic format, including native files, TIFF images with associated load files, or searchable PDF with optical character recognition (OCR), in accordance with the specifications set forth in Attachment B (Production Format Specifications) attached hereto and incorporated by reference.
V. Date of Issuance
Date of Issuance: July 14, 2025
This date of issuance is consistent with the Scheduling Order entered by the Honorable Richard A. Johannsen on May 19, 2025 (Dkt. No. 47), which provides that fact discovery shall close on August 4, 2025, and that subpoenas to non-parties for document production must be served no later than twenty-one (21) days prior to the close of fact discovery.
VI. Signature — Officer of the Court
This Subpoena is issued by the undersigned attorney as an officer of the Court authorized to issue subpoenas under Federal Rule of Civil Procedure 45(a)(3). The undersigned is an attorney admitted pro hac vice in the Western District of Washington and is authorized to practice before the Court in this matter.
CALDERWOOD & HARKNESS LLP
By: ________
Aaron Liu Associate Calderwood & Harkness LLP 555 California Street, Suite 2700 San Francisco, CA 94104 Telephone: (415) 782-4400
Email: aliu@calderwoodharkness.com
Admitted Pro Hac Vice, W.D. Wash. (Order dated June 2, 2025, Dkt. No. 34) California State Bar No. 347821
Date: July 14, 2025
or
CLERK OF COURT
By: ________
Deputy Clerk United States District Court Western District of Washington 700 Stewart Street, Seattle, WA 98101
Date: ________
VII. Notice of Service on All Parties
Pursuant to Federal Rule of Civil Procedure 45(a)(4), the undersigned hereby certifies that notice of this Subpoena Duces Tecum has been served on all parties in this action prior to or contemporaneously with service of the Subpoena on Nomad Shops LLC. Notice has been provided to the following counsel:
Counsel for Plaintiff Federal Trade Commission:
Claire Dunmore, Lead Trial Attorney Samuel Ortega, Senior Trial Counsel Rebecca Yun, Staff Attorney Federal Trade Commission Bureau of Competition, Mergers IV Division 600 Pennsylvania Avenue NW Washington, D.C. 20580
Email: cdunmore@ftc.gov; sortega@ftc.gov; ryun@ftc.gov
Counsel for Defendant Pinnacle Market Group Inc.:
Diana Whitfield, Partner Kenneth Oshiro, Partner Whitfield, Greer & Tanaka LLP 100 Congress Avenue, Suite 2200 Austin, TX 78701
Email: dwhitfield@wgtlaw.com; koshiro@wgtlaw.com
Counsel for Proposed Intervenor Independent Online Sellers Alliance:
Martina Galloway, Partner Galloway & Peck LLP 60 East 42nd Street, Suite 2600 New York, NY 10165
Email: mgalloway@gallowaypeck.com
ATTACHMENT A
SCHEDULE OF DOCUMENT REQUESTS
DEFINITIONS AND INSTRUCTIONS
A. Definitions
As used in this Subpoena Duces Tecum, including all Attachments hereto, the following terms shall have the meanings set forth below. These definitions are to be construed broadly and in accordance with the Federal Rules of Civil Procedure.
1.  "Nomad" or "You" or "Your" means Nomad Shops LLC, together with its current and former officers, directors, members, managers, employees, agents, consultants, representatives, predecessors, successors, subsidiaries, and affiliates, including any entity that Nomad Shops LLC directly or indirectly controls, is controlled by, or is under common control with. The terms "You" and "Your" shall be interpreted to include all such persons and entities acting on behalf of or at the direction of Nomad Shops LLC.
2.  "Cascade" means Cascade Retail Holdings Inc., a Delaware corporation, including its subsidiaries and affiliates, and including, without limitation, the CascadeMarket third-party seller marketplace platform (which was launched on or about June 1, 2019), and any current or former officer, director, employee, agent, or representative of Cascade Retail Holdings Inc. or its subsidiaries and affiliates acting in such capacity.
3.  "Pinnacle" means Pinnacle Market Group Inc., a Delaware corporation, including its subsidiaries and affiliates, and any current or former officer, director, employee, agent, or representative of Pinnacle Market Group Inc. or its subsidiaries and affiliates acting in such capacity.
4.  "CRH Merger Sub" means CRH Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Cascade Retail Holdings Inc., formed for the purpose of effecting the Proposed Transaction described herein.
5.  "Proposed Transaction" or "Merger" means the proposed acquisition of Pinnacle Market Group Inc. by Cascade Retail Holdings Inc. pursuant to the Agreement and Plan of Merger dated March 14, 2025, publicly announced on March 17, 2025, whereby CRH Merger Sub Inc. will merge with and into Pinnacle Market Group Inc. in a reverse triangular merger, with Pinnacle surviving as a wholly owned subsidiary of Cascade, for aggregate consideration of approximately $4.7 billion (representing approximately $26.85 per share of Pinnacle common stock). The term "Proposed Transaction" includes any negotiations, due diligence, regulatory filings, or other steps taken in connection with or contemplation of such transaction.
6.  "FTC" means the Federal Trade Commission, including its Bureau of Competition (and specifically the Mergers IV Division), its Bureau of Economics, its Commissioners, and all current and former staff, employees, attorneys, economists, and agents of the Federal Trade Commission, whether acting in an individual or official capacity in connection with the matters at issue in this litigation.
7.  "IOSA" means the Independent Online Sellers Alliance, a 501(c)(6) trade association headquartered at 1025 Vermont Avenue NW, Suite 600, Washington, D.C. 20005, including its officers, directors, employees, agents, members, and representatives.
8.  "Vertex" means Vertex Commerce Inc., a Delaware corporation headquartered at 2100 North First Street, San Jose, CA 95131, including its subsidiaries and affiliates, and any current or former officer, director, employee, agent, or representative of Vertex Commerce Inc. or its subsidiaries and affiliates acting in such capacity.
9.  "Marketplace Platform" or "Online Marketplace Platform" means any internet-based platform, website, mobile application, or digital service that enables third-party sellers (whether individuals, sole proprietors, or business entities) to list, market, and sell goods or services to consumers or other buyers, where the platform operator facilitates transactions between sellers and buyers and charges sellers fees in connection with such transactions, including but not limited to commissions, listing fees, fulfillment fees, advertising fees, subscription fees, payment processing fees, or other service charges. This term includes, without limitation, the marketplace platforms operated by Cascade (CascadeMarket), Pinnacle, Vertex, Nomad Shops LLC, Brevity Social Commerce Inc., and Trove Marketplace Inc.
10.  "Take Rate" means the percentage of gross merchandise value (GMV) retained by a marketplace platform operator as revenue derived from the aggregate fees charged to sellers in connection with transactions on the platform, including commissions, listing fees, fulfillment fees, advertising fees, and all other fees. The Take Rate is typically calculated by dividing the platform's net revenue from seller fees by total GMV for a given period.
11.  "GMV" or "Gross Merchandise Value" means the total dollar value of merchandise, goods, or services sold through a marketplace platform during a given period, measured at the transaction price paid by the buyer, before deduction of any fees, returns, cancellations, or chargebacks, unless otherwise specified.
12.  "Seller Churn" or "Seller Attrition" means the rate at which active sellers cease selling on a marketplace platform over a defined period, whether measured on a monthly, quarterly, or annual basis. This includes voluntary departures, involuntary removals, and sellers whose accounts become inactive.
13.  "Multi-Homing" means the practice of sellers listing and selling products on more than one marketplace platform simultaneously. This term encompasses both complete multi-homing (where a seller lists its full catalog on multiple platforms) and partial multi-homing (where a seller lists a subset of its products or categories on multiple platforms).
14.  "Document" and "Documents" shall be construed as broadly as permitted under Federal Rule of Civil Procedure 34(a) and shall include, without limitation, all writings, recordings, and electronically stored information of every kind and description, whether handwritten, typed, printed, recorded, or stored electronically or magnetically, including but not limited to: emails, text messages, instant messages, Meridian Solutions or similar messaging platform communications (including Northgate Data Systems, discord, or any other collaboration tool), spreadsheets, databases, presentations, memoranda, reports, analyses, studies, surveys, notes, letters, agreements, contracts, invoices, financial statements, meeting minutes, agendas, calendar entries, voicemail recordings, and all associated metadata. The term "Document" includes all drafts, non-identical copies, and attachments.
15.  "Communication" means any oral, written, or electronic exchange of information between two or more persons or entities, including but not limited to: emails, letters, memoranda, telephone calls, video conferences (including Calderon Software, Northgate Data Systems, Severin Industries Meet, or similar platforms), text messages, instant messages, social media messages (including direct messages on platforms such as Westmark Health IT, Ashford Systems, Kestrel Services Inc., or Northpoint Services Inc.), and any other form of correspondence, discussion, or dialogue.
16.  "Relevant Period" means January 1, 2022 through the date of production of documents responsive to this Subpoena, unless otherwise specified in a particular Document Request. Where a specific Document Request specifies a different time period, the time period stated in that request shall govern.
17.  "Relating to" or "Concerning" means referring to, describing, evidencing, constituting, mentioning, reflecting, pertaining to, discussing, analyzing, evaluating, summarizing, or having any logical connection with the subject matter referenced. These terms shall be construed broadly to encompass any document that is relevant to or reasonably calculated to lead to the discovery of admissible evidence regarding the referenced subject matter.
B. Instructions
The following instructions apply to all Document Requests contained in this Attachment A. To the extent that any instruction conflicts with a specific provision of a particular Document Request, the provision of the specific Document Request shall control.
1.  Governing Rules. Production pursuant to this Subpoena shall be made in accordance with Federal Rule of Civil Procedure 45, the Federal Rules of Civil Procedure generally, and the Local Rules of the United States District Court for the Western District of Washington. Nomad is directed to the provisions of Rule 45(d) and (e) regarding its duties in responding to this Subpoena.
2.  Organization of Production. Documents shall be produced either (a) as they are kept in the ordinary course of business, with sufficient information to identify the custodian, source, and file location of each document, or (b) organized and labeled to correspond to each Document Request in this Attachment A. If documents are responsive to more than one Document Request, they need be produced only once, but Nomad shall identify (by Bates number range or other reference) which Document Requests each produced document is responsive to.
3.  Privilege Log. If any document responsive to any Document Request is withheld in whole or in part on grounds of attorney-client privilege, work-product protection, or any other applicable privilege or protection, Nomad shall provide a privilege log identifying each withheld document with sufficient detail to enable the requesting party to assess the claim of privilege. The privilege log shall include, at a minimum, the following information for each withheld document: (a) the date of the document; (b) the author(s) or sender(s) of the document; (c) all recipients, including "cc" and "bcc" recipients; (d) the general subject matter of the document (without revealing privileged content); (e) the type of document (e.g., email, memorandum, letter); and (f) the specific privilege or protection asserted. The privilege log shall be served on the issuing party within five (5) business days of the production deadline.
4.  Relevant Period. Unless otherwise specified in a particular Document Request, the Relevant Period for all requests is January 1, 2022 through the date of production. This Relevant Period is designed to capture documents from the period preceding and during the negotiation of the Proposed Transaction, as well as documents reflecting the competitive dynamics of the online marketplace platform industry during the time frame most relevant to the claims and defenses in this action.
5.  Objections and Narrow Construction. If any Document Request is objected to as overbroad, unduly burdensome, or otherwise improper, Nomad is requested to (a) produce all documents responsive to the Document Request as reasonably and narrowly construed by Nomad, and (b) state with specificity the grounds for any objection, including the specific terms or aspects of the Document Request to which objection is made and the nature of the burden or prejudice alleged. Nomad is encouraged to contact undersigned counsel to discuss any objections before the production deadline so that the parties may attempt to resolve any disputes without court intervention.
6.  Previously Produced Documents. Documents that Nomad has previously produced to the FTC in connection with the FTC's pre-complaint investigation (File No. 251-0089), the FTC's administrative proceeding (Docket No. 9438), or any other aspect of the FTC's review of the Proposed Transaction need not be reproduced to Defendants, provided that Nomad identifies such documents by Bates number, production reference number, or other unique identifier sufficient to enable Defendants to locate and obtain copies of such documents through appropriate channels (including by requesting such documents from the FTC pursuant to the Protective Order entered in this action). Nomad shall provide a list identifying, by Bates number range, all documents previously produced to the FTC that are responsive to the Document Requests contained herein.
7.  Continuing Obligation. Nomad is requested to supplement its production if additional responsive documents are identified or come into existence after the initial date of production but before the close of fact discovery in this action (currently August 4, 2025).
8.  Contact Information. Any questions regarding this Subpoena or the Document Requests contained herein should be directed to Aaron Liu at (415) 782-4400 or aliu@calderwoodharkness.com, or to Howard Bellamy at (202) 661-8800 or hbellamy@calderwoodharkness.com.
DOCUMENT REQUESTS
Request No. 1: Marketplace Platform Operations — General
Produce all Documents Concerning Nomad's online marketplace platform operations during the Relevant Period, including but not limited to: business plans, strategic plans, annual operating plans, long-range plans, budget documents, board of directors presentations, board of managers presentations, investor presentations, management committee reports, executive committee reports, quarterly business reviews, and any other Documents reflecting Nomad's assessment of its business operations, financial performance, and strategic direction.
Without limiting the generality of the foregoing, this Request specifically seeks Documents reflecting Nomad's competitive strategy, market positioning, growth initiatives, customer acquisition and retention strategies, technology development priorities, and assessment of competitive dynamics in the online marketplace platform industry, including Documents reflecting Nomad's views on the competitive significance of Cascade (including CascadeMarket), Pinnacle, Vertex, and any other Marketplace Platform operators.
Request No. 2: Take Rate Changes and Fee Structures
Produce all Documents Concerning any changes to Nomad's Take Rate, commission structures, seller fee schedules, listing fees, fulfillment fees, advertising fees, payment processing fees, subscription fees, or any other fees or charges imposed on third-party sellers on Nomad's marketplace platform during the Relevant Period.
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) Internal analyses, modeling, or projections prepared in connection with any actual or contemplated change to Nomad's fee structures or Take Rate;
(b) Board of directors or board of managers presentations, approvals, or minutes reflecting discussions of fee structure changes;
(c) Seller notifications, communications, or announcements regarding changes to fees or the Take Rate;
(d) Documents reflecting any assessments of competitive pricing dynamics, including analyses of competitor fee structures or Take Rates, that informed Nomad's decisions regarding its own fees or Take Rate;
(e) Documents reflecting Nomad's current Take Rate and fee structure as of the date of production; and
(f) Documents reflecting any planned, contemplated, or proposed future changes to Nomad's Take Rate or fee structure, including any changes that may be contingent on or influenced by the consummation or non-consummation of the Proposed Transaction.
Request No. 3: Seller Recruitment, Acquisition, and Retention
Produce all Documents Concerning Nomad's strategies, programs, initiatives, and efforts for recruiting, acquiring, onboarding, and retaining third-party sellers on its marketplace platform during the Relevant Period.
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) Seller onboarding data, including the number of new sellers added to the platform on a monthly, quarterly, and annual basis;
(b) Seller satisfaction surveys, Net Promoter Score data, and any other metrics or studies measuring seller satisfaction with Nomad's platform;
(c) Seller retention metrics, including the number and percentage of active sellers retained on the platform on a quarterly and annual basis;
(d) Seller Churn data, including the rate of seller departures and any analyses of the reasons for seller attrition, including exit surveys, feedback forms, or internal analyses of departure trends;
(e) Documents comparing Nomad's seller value proposition (including fees, services, traffic, fulfillment capabilities, marketing tools, and customer base) to that of competing Marketplace Platforms, including Cascade (CascadeMarket), Pinnacle, Vertex, Brevity Social Commerce Inc., and Trove Marketplace Inc.; and
(f) Documents reflecting any incentive programs, promotional offers, fee discounts, or other inducements offered by Nomad to attract or retain sellers on its platform.
Request No. 4: Seller Multi-Homing Analysis
Produce all Documents Concerning the extent to which Nomad's third-party sellers also sell on other Marketplace Platforms (i.e., Multi-Homing), during the Relevant Period.
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) Data, analyses, reports, or estimates reflecting the percentage of Nomad's active sellers who also sell on CascadeMarket, Pinnacle, Vertex, Brevity Social Commerce Inc., Trove Marketplace Inc., or any other Marketplace Platform;
(b) Documents analyzing the extent of product listing overlap between Nomad and other Marketplace Platforms, including analyses of the number or percentage of SKUs listed on Nomad that are also listed on competing platforms;
(c) Documents analyzing how Multi-Homing behavior affects Nomad's competitive position, including analyses of Multi-Homing's impact on Nomad's pricing power, ability to negotiate seller terms, seller retention, and overall marketplace health;
(d) Documents analyzing trends in Multi-Homing over time, including whether Multi-Homing among Nomad's sellers has increased, decreased, or remained stable during the Relevant Period; and
(e) Documents reflecting any policies, programs, or practices implemented by Nomad to encourage or discourage Multi-Homing by its sellers, including any exclusivity requirements, preferential treatment for single-homing sellers, or penalties for Multi-Homing sellers.
Request No. 5: Expansion Plans and New Market Entry
Produce all Documents Concerning Nomad's plans, strategies, or initiatives for expanding its marketplace platform operations during the Relevant Period, including but not limited to:
(a) Plans for entry into new product categories or verticals, including any analyses of the addressable market size, competitive landscape, and projected financial returns for such categories;
(b) Plans for geographic expansion, including expansion into international markets or into new domestic regions;
(c) Technology investment plans, including investments in platform infrastructure, artificial intelligence, machine learning, search algorithms, recommendation engines, mobile applications, or other technology capabilities;
(d) Plans for new service offerings, including fulfillment services, logistics capabilities, advertising products, financial services for sellers, or any other ancillary services;
(e) Capital expenditure plans and technology roadmaps reflecting anticipated investments in platform capabilities;
(f) Documents analyzing opportunities for Nomad to compete more directly with Cascade (including CascadeMarket), Pinnacle, or Vertex, including any analyses of competitive gaps, market opportunities, or strategic positioning; and
(g) Documents reflecting the impact, if any, of the Proposed Transaction on Nomad's expansion plans or strategic direction.
Request No. 6: Competitive Analyses — Market Definition and Competitors
Produce all Documents containing analyses, assessments, evaluations, or discussions of the competitive landscape for Online Marketplace Platforms, e-commerce platforms, or e-commerce retail generally during the Relevant Period.
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) Documents identifying Nomad's competitors, whether in Nomad's own assessment or in the assessment of third parties (including industry analysts, consultants, investors, or market research firms);
(b) Documents assessing competitive threats to Nomad's marketplace platform business, including threats from established Marketplace Platforms, emerging Marketplace Platforms, direct-to-consumer e-commerce retailers, social commerce platforms, or brick-and-mortar retailers with online presences;
(c) Documents analyzing market shares of Nomad and its competitors in the online marketplace platform industry, however defined, including market share by GMV, revenue, number of active sellers, number of active buyers, or any other metric;
(d) Documents evaluating market trends in the online marketplace platform industry, including trends in seller fees, Take Rates, platform consolidation, technology innovation, and consumer behavior;
(e) Documents discussing whether Nomad competes with direct-to-consumer e-commerce retailers (such as Cascade's CascadeDirect.com first-party retail operations), social commerce platforms (such as Brevity Social Commerce Inc.), or brick-and-mortar retailers with online presences, and the extent of such competition;
(f) Documents reflecting Nomad's view of the relevant market or markets in which it competes, including any internal analyses or discussions of market definition; and
(g) Documents addressing whether the market for "online marketplace platform services for third-party sellers" constitutes a distinct product market or relevant antitrust market separate from the broader market for e-commerce or retail generally, including any analyses prepared by or for Nomad, its officers, directors, managers, or advisors.
Request No. 7: Barriers to Entry and Expansion
Produce all Documents Concerning barriers to entry or barriers to expansion in the online marketplace platform industry during the Relevant Period.
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) Documents analyzing technology requirements, capital requirements, or other resource requirements for establishing or operating a viable Marketplace Platform;
(b) Documents analyzing the role and significance of network effects (including direct network effects between buyers and sellers, and indirect network effects among sellers) in the online marketplace platform industry;
(c) Documents analyzing the importance of brand recognition, reputation, and consumer trust in enabling a Marketplace Platform to attract and retain buyers and sellers;
(d) Documents analyzing seller acquisition costs and buyer acquisition costs for Marketplace Platforms, including any estimates of the cost of acquiring a new active seller or a new active buyer;
(e) Documents analyzing regulatory barriers, compliance costs, or legal requirements applicable to Marketplace Platform operators;
(f) Documents assessing the ease or difficulty of new entrants establishing viable Marketplace Platforms, including any analyses of the competitive viability of recently launched or emerging platforms such as Brevity Social Commerce Inc. and Trove Marketplace Inc.; and
(g) Documents assessing whether existing Marketplace Platform operators (including Nomad) face barriers to expanding into new product categories, geographic markets, or service offerings.
Request No. 8: Communications with the FTC Concerning the Proposed Transaction
Produce all Communications between Nomad (including any officer, director, member, manager, employee, agent, consultant, or legal representative of Nomad) and the FTC (including any of its commissioners, staff, attorneys, economists, or agents, including specifically Claire Dunmore, Samuel Ortega, Rebecca Yun, and Dr. Nathaniel Hargrove) Concerning the Proposed Transaction, the competitive effects of the Proposed Transaction, the online marketplace platform industry, or any aspect of the FTC's investigation (File No. 251-0089), the FTC's administrative proceeding (Docket No. 9438), or this litigation (Case No. 2:25-cv-01087-RAJ).
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) All Documents produced by Nomad to the FTC in connection with any investigation, administrative proceeding, or litigation relating to the Proposed Transaction, including a log identifying each production by date, volume, and Bates number range;
(b) All civil investigative demands ("CIDs"), voluntary access letters, document requests, interrogatories, or other formal or informal requests for information issued by the FTC to Nomad;
(c) Nomad's responses to any such CIDs, voluntary access letters, or other requests;
(d) Transcripts of any investigational hearings, depositions, interviews, or other testimony provided by any officer, director, member, manager, employee, or agent of Nomad to the FTC;
(e) All written Communications, including emails, letters, and memoranda, between Nomad (or its counsel) and the FTC (or its counsel) concerning the Proposed Transaction or any related investigation or proceeding; and
(f) Any declarations, affidavits, white papers, economic analyses, or other submissions prepared by or on behalf of Nomad and provided to the FTC in connection with the Proposed Transaction.
Request No. 9: Communications with the Independent Online Sellers Alliance (IOSA)
Produce all Communications between Nomad (including any officer, director, member, manager, employee, agent, consultant, or legal representative of Nomad) and the Independent Online Sellers Alliance ("IOSA"), including any of IOSA's officers, directors, employees, agents, or representatives, including Communications through counsel (Galloway & Peck LLP, Martina Galloway), during the Relevant Period.
Without limiting the generality of the foregoing, this Request specifically seeks Communications Concerning:
(a) The Proposed Transaction, including its potential impact on online marketplace competition, seller welfare, seller fees, or the competitive landscape;
(b) Online marketplace competition generally, including competitive dynamics among Cascade, Pinnacle, Vertex, Nomad, and other Marketplace Platform operators;
(c) Seller protection, seller advocacy, or lobbying efforts relating to Marketplace Platform practices;
(d) Take Rate practices, seller fee structures, or fee increases by any Marketplace Platform operator;
(e) Any aspect of IOSA's motion to intervene in this litigation (Case No. 2:25-cv-01087-RAJ), including any coordination or discussions between Nomad and IOSA regarding the motion or the underlying litigation; and
(f) Any membership records, financial contributions, dues payments, or other records reflecting whether Nomad is a member of, contributor to, sponsor of, or otherwise affiliated with IOSA.
Request No. 10: Communications with Cascade or Pinnacle Concerning the Proposed Transaction
Produce all Communications between Nomad (including any officer, director, member, manager, employee, agent, consultant, or legal representative of Nomad) and Cascade (including any officer, director, employee, agent, or representative of Cascade or any of its subsidiaries or affiliates) or Pinnacle (including any officer, director, employee, agent, or representative of Pinnacle or any of its subsidiaries or affiliates) during the Relevant Period.
Without limiting the generality of the foregoing, this Request specifically seeks Communications Concerning:
(a) The Proposed Transaction, including its competitive effects, its potential impact on the online marketplace platform industry, or its potential impact on Nomad's business;
(b) Competitive dynamics between Nomad and Cascade (including CascadeMarket), between Nomad and Pinnacle, or among Marketplace Platform operators generally;
(c) Marketplace Platform operations, including seller recruitment, seller retention, fee structures, Take Rates, fulfillment services, technology capabilities, or other aspects of marketplace platform operations;
(d) Any potential acquisition of Nomad by Cascade, Pinnacle, or any other party, including any expressions of interest, due diligence requests, term sheets, letters of intent, or negotiations relating to a potential acquisition; and
(e) Any other commercial, strategic, or operational matters between Nomad and Cascade or Pinnacle.
Request No. 11: Communications with Vertex Commerce Concerning the Proposed Transaction
Produce all Communications between Nomad (including any officer, director, member, manager, employee, agent, consultant, or legal representative of Nomad) and Vertex Commerce Inc. (including any officer, director, employee, agent, or representative of Vertex Commerce Inc. or any of its subsidiaries or affiliates) during the Relevant Period, Concerning:
(a) The Proposed Transaction, including its potential competitive effects on the online marketplace platform industry or on any individual Marketplace Platform operator;
(b) Competitive effects of the Proposed Transaction on Vertex, Nomad, or any other Marketplace Platform operator;
(c) Any coordination, discussion, or exchange of information between Nomad and Vertex regarding their respective responses to the FTC's investigation (File No. 251-0089), the FTC's administrative proceeding (Docket No. 9438), or this litigation (Case No. 2:25-cv-01087-RAJ); and
(d) Any joint advocacy efforts, shared analyses, or coordinated strategies relating to the Proposed Transaction or the FTC's review thereof.
Request No. 12: GMV, Revenue, and Financial Data
Produce Documents sufficient to show the following financial and operational data for Nomad's marketplace platform on a quarterly and annual basis for fiscal years 2022, 2023, and 2024, and for any completed quarters of fiscal year 2025 as of the date of production:
(a) Total GMV (Gross Merchandise Value) processed through Nomad's marketplace platform;
(b) Total net revenue generated by Nomad from its marketplace platform operations, broken down by revenue category (e.g., commissions, listing fees, fulfillment fees, advertising fees, subscription fees, payment processing fees, and other fees);
(c) Nomad's effective Take Rate, calculated as total marketplace net revenue divided by total GMV;
(d) The number of active sellers on Nomad's marketplace platform, measured on a monthly, quarterly, and annual basis (with "active seller" defined consistently with Nomad's internal reporting methodology);
(e) The number of active buyers on Nomad's marketplace platform, measured on a monthly, quarterly, and annual basis;
(f) Total transaction volume (number of transactions) on Nomad's marketplace platform, measured on a quarterly and annual basis; and
(g) Documents reflecting Nomad's market share in the online marketplace platform industry, as calculated, estimated, or reported by Nomad, its management, its board of directors or managers, or any third party (including industry analysts, market research firms, investment banks, or consultants).
Request No. 13: Impact of the Proposed Transaction on Nomad
Produce all Documents reflecting Nomad's assessment, analysis, evaluation, or discussion of the potential impact of the Proposed Transaction on Nomad's business, competitive position, seller base, buyer base, pricing, fee structures, strategic plans, or operations.
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) Internal memoranda, presentations, reports, or analyses prepared by or for Nomad's management, board of directors, board of managers, or any committee thereof, discussing the expected or potential effects of the Proposed Transaction;
(b) Documents reflecting whether Nomad believes the Proposed Transaction would harm or benefit competition in the online marketplace platform industry, whether for sellers, buyers, or both;
(c) Documents reflecting whether Nomad believes the Proposed Transaction would harm or benefit Nomad's own business, including any analyses of changes to competitive dynamics, seller acquisition, seller retention, pricing pressure, or market share that might result from the Proposed Transaction;
(d) Documents reflecting any lobbying, advocacy, or public statements made by Nomad in connection with the Proposed Transaction, including any communications with elected officials, regulatory agencies (other than the FTC, which is covered by Request No. 8), industry groups, media outlets, or the public; and
(e) Documents reflecting Nomad's views on any potential remedies, conditions, or divestitures that might address competitive concerns arising from the Proposed Transaction.
Request No. 14: Switching Costs and Platform Differentiation
Produce all Documents Concerning the costs, difficulty, or barriers for sellers to switch between Nomad's marketplace platform and competing Marketplace Platforms (including CascadeMarket, Pinnacle, and Vertex), during the Relevant Period.
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) Documents analyzing the financial, technical, operational, or reputational costs incurred by sellers in switching from Nomad to a competing Marketplace Platform or from a competing Marketplace Platform to Nomad;
(b) Documents analyzing platform differentiation between Nomad and competing Marketplace Platforms, including differences in product categories, seller demographics, buyer demographics, geographic reach, platform features, fulfillment capabilities, marketing tools, and brand identity;
(c) Documents analyzing product category overlap between Nomad and competing Marketplace Platforms, including data on the extent to which the same or similar products are available on Nomad and on Cascade (CascadeMarket), Pinnacle, Vertex, or other platforms;
(d) Documents analyzing customer (buyer) overlap between Nomad and competing Marketplace Platforms, including data on the extent to which Nomad's buyers also purchase goods on other Marketplace Platforms; and
(e) Documents reflecting any lock-in effects, contractual restrictions, data portability limitations, or other factors that affect the ability of sellers or buyers to switch between Marketplace Platforms.
Request No. 15: Social Commerce and Emerging Platforms
Produce all Documents analyzing, assessing, evaluating, or discussing the competitive significance of social commerce platforms (including but not limited to Brevity Social Commerce Inc.) and recently launched or emerging Marketplace Platforms (including but not limited to Trove Marketplace Inc.) as actual or potential competitors to Nomad during the Relevant Period.
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) Documents analyzing whether social commerce platforms represent a meaningful competitive constraint on Nomad's marketplace operations, including analyses of the extent to which social commerce platforms compete for the same sellers, the same buyers, or the same product categories as Nomad;
(b) Documents analyzing whether recently launched Marketplace Platforms (including Trove Marketplace Inc.) have the potential to become significant competitors to Nomad, including analyses of their business models, technology, market traction, seller base, buyer base, and growth trajectory;
(c) Documents analyzing whether social commerce platforms and emerging Marketplace Platforms are expanding the overall market for online marketplace platform services or are instead capturing share from established Marketplace Platform operators; and
(d) Documents reflecting Nomad's strategic response to the emergence of social commerce platforms and new Marketplace Platform entrants, including any changes to Nomad's competitive strategy, product offerings, fee structures, or marketing approach in response to such competition.
Request No. 16: Seller Complaints and Grievances
Produce all Documents reflecting complaints, grievances, disputes, or concerns raised by Nomad's third-party sellers regarding Nomad's fee structures, Take Rates, service levels, platform policies, competitive practices, or any other aspect of Nomad's marketplace platform operations during the Relevant Period.
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) Correspondence, emails, tickets, or other Communications between Nomad (including Nomad's seller support, seller relations, or seller success teams) and individual sellers or groups of sellers reflecting complaints or grievances regarding fees, Take Rates, or service levels;
(b) Internal reports, summaries, or analyses of seller complaints or grievances, including any trend analyses or root cause analyses;
(c) Documents reflecting any formal dispute resolution proceedings (including mediation or arbitration) between Nomad and its sellers; and
(d) Any correspondence between Nomad and its sellers regarding the Proposed Transaction, including any communications addressing seller concerns about the potential impact of the Proposed Transaction on seller welfare, fees, or competitive conditions in the marketplace platform industry.
Request No. 17: Documents Produced to Any Government Agency or Third Party Concerning the Proposed Transaction
Produce all Documents that Nomad has produced to any federal or state government agency, including but not limited to the FTC, the United States Department of Justice (Antitrust Division), or any state attorney general, in connection with any investigation, inquiry, review, or proceeding relating to the Proposed Transaction.
Without limiting the generality of the foregoing, this Request specifically seeks:
(a) Copies of all documents produced to any such government agency (to the extent not already produced in response to Request No. 8 above);
(b) A log identifying each production made by Nomad to a government agency in connection with the Proposed Transaction, including: (i) the identity of the requesting agency; (ii) the date of each production; (iii) the volume of documents produced (by number of documents and/or pages); and (iv) the Bates number range or other unique identifier for each production; and
(c) Copies of all formal or informal requests for information received by Nomad from any government agency in connection with the Proposed Transaction, including civil investigative demands, subpoenas, voluntary access letters, and informal requests.
ATTACHMENT B
PRODUCTION FORMAT SPECIFICATIONS
The following specifications shall govern the format and manner of production of documents and electronically stored information ("ESI") responsive to this Subpoena Duces Tecum.
1. General Format
All documents shall be produced in electronic format. Paper documents, if any, shall be scanned and produced electronically in accordance with these specifications. Nomad may produce documents using any of the following methods:
(a) TIFF Production: Documents shall be produced as single-page TIFF images (Group IV, 300 dpi, black and white or color as appropriate) accompanied by extracted text files (or OCR text for scanned documents) and metadata load files in Ashgrove Technologies DAT or Relativity-compatible format.
(b) Native Format Production: Spreadsheets (including Ashbury Holdings Excel, Stonefield Services Inc., and CSV files), databases, and presentation files (including Ashbury Holdings Northgate Services Inc. and Pemberton Services Inc.) shall be produced in their native file format, with all associated metadata preserved.
(c) PDF Production: As an alternative to TIFF production, documents may be produced as searchable PDF files with full optical character recognition (OCR) text and accompanying metadata load files.
2. Bates Numbering
Each page of each produced document shall be assigned a unique, sequential Bates number. Bates numbers shall be stamped on each TIFF image or, in the case of native file production, identified in the load file associated with each document. The Bates numbering prefix shall be "NOMAD-" followed by a sequential numeric identifier with leading zeros sufficient to accommodate the total volume of production (e.g., NOMAD-00000001).
3. Email Production
Email documents shall be produced together with all attachments as family groups. The parent email and all associated attachments shall be linked in the load file so that the family relationship is preserved. Email metadata fields shall include, at a minimum: To, From, CC, BCC, Date Sent, Time Sent, Subject, Attachment File Names, and Custodian.
4. Metadata
For all produced documents, the following metadata fields shall be captured and included in the production load file, to the extent reasonably available:
•  Bates Begin / Bates End
•  Custodian
•  Author
•  Date Created
•  Date Modified
•  Date Sent (for emails)
•  Date Received (for emails)
•  To / From / CC / BCC (for emails)
•  Subject (for emails)
•  File Name
•  File Extension
•  File Path
•  File Size
•  MD5 or SHA-1 Hash Value
•  Confidentiality Designation
5. De-Duplication
Nomad may de-duplicate documents across custodians based on MD5 or SHA-1 hash values, provided that all custodians who possessed a copy of a de-duplicated document are identified in the load file. De-duplication within email families (i.e., removal of duplicate emails within a single email thread) is not permitted; all emails in a thread shall be produced individually.
6. Date Range Filters
Documents may be filtered by the Relevant Period (January 1, 2022 through the date of production) based on the "Date Created," "Date Modified," or "Date Sent" metadata fields, as applicable. If Nomad applies date range filters, Nomad shall disclose the specific filtering methodology and date fields used.
7. Custodian Identification
Each produced document shall be identified by custodian in the load file. If a document was collected from a shared drive, shared mailbox, or other non-custodial source, the source shall be identified in the load file.
8. Confidentiality Designations
Documents may be designated as "CONFIDENTIAL," "HIGHLY CONFIDENTIAL — ATTORNEYS' EYES ONLY," or "HIGHLY CONFIDENTIAL — SOURCE CODE" in accordance with the Stipulated Protective Order entered in Case No. 2:25-cv-01087-RAJ on June 9, 2025 (Dkt. No. 52). Confidentiality designations shall be applied by stamping the designation on TIFF images or PDF pages and by including the designation in the metadata load file for native file productions.
9. Delivery Method
Production may be delivered via: (a) secure electronic transfer using a mutually agreed-upon file transfer protocol (such as Crestline Technologies, box, Aldermere Systems, or other secure cloud-based repository); or (b) encrypted external hard drive or USB device, shipped via tracked overnight courier to Calderwood & Harkness LLP, 555 California Street, Suite 2700, San Francisco, CA 94104, Attention: Aaron Liu.
10. Production Cover Letter
Each production shall be accompanied by a cover letter identifying: (a) the date of production; (b) the total number of documents and pages produced; (c) the Bates number range of the production; (d) the custodians and non-custodial sources included in the production; (e) any limitations, qualifications, or objections applicable to the production; and (f) the confidentiality designations applied.
ATTACHMENT C
NOTICE OF RIGHTS UNDER FEDERAL RULE OF CIVIL PROCEDURE 45
A. Rights of Recipient
Nomad Shops LLC, as the recipient of this Subpoena Duces Tecum, is hereby advised of the following rights under Federal Rule of Civil Procedure 45:
1.  Right to Object. Nomad Shops LLC has the right to serve written objections to this Subpoena on the issuing party. Any objections must be served before the earlier of: (a) the time specified for compliance with the Subpoena (i.e., twenty-one days following service), or (b) fourteen (14) days after service of the Subpoena. If Nomad serves timely written objections, the issuing party may not inspect, copy, test, or sample any materials except pursuant to an order of the Court. The issuing party may move the Court for an order compelling production notwithstanding the objections.
2.  Right to Move to Quash or Modify. Nomad Shops LLC has the right to move the Court to quash or modify this Subpoena pursuant to Federal Rule of Civil Procedure 45(d)(3). The Court must quash or modify a subpoena that: (i) fails to allow a reasonable time to comply; (ii) requires a person to comply beyond the geographical limits specified in Rule 45(c); (iii) requires disclosure of privileged or other protected matter, if no exception or waiver applies; or (iv) subjects a person to undue burden. The Court may also quash or modify a subpoena that requires: (i) disclosing a trade secret or other confidential research, development, or commercial information; or (ii) disclosing an unretained expert's opinion or information that does not describe specific occurrences in dispute and results from the expert's study that was not requested by a party.
3.  Protection from Undue Burden. This Subpoena must not impose undue burden on Nomad Shops LLC. If compliance with this Subpoena would impose undue burden or require the disclosure of trade secrets or other confidential research, development, or commercial information, Nomad Shops LLC may move to quash or modify the Subpoena or may seek a protective order under Federal Rule of Civil Procedure 26(c). The issuing party is obligated to take reasonable steps to avoid imposing undue burden or expense on Nomad, and the Court may impose conditions on compliance, including requiring the issuing party to bear the reasonable costs of production.
B. Compliance Location
Under Federal Rule of Civil Procedure 45(c), a subpoena may command production of documents at any place. Production via secure electronic transfer to a designated repository, as described in Section IV of this Subpoena and in Attachment B, is acceptable and does not require Nomad Shops LLC to travel to or appear personally at any location.
Nomad Shops LLC is located at 45 Main Street, Suite 700, Brooklyn, NY 11201, which is within 100 miles of the United States District Court for the Eastern District of New York. This Subpoena is issued from the United States District Court for the Western District of Washington. Compliance with the document production requirements of this Subpoena does not require personal appearance by any officer, director, member, manager, employee, or agent of Nomad Shops LLC. Documents may be produced electronically without regard to geographic limitations.
C. Privilege and Protection Claims
If Nomad Shops LLC withholds any document or electronically stored information responsive to this Subpoena on grounds of attorney-client privilege, work-product protection, or any other applicable privilege or protection, Nomad shall comply with the requirements of Federal Rule of Civil Procedure 45(e)(2) by:
(a) Expressly making the claim of privilege; and
(b) Describing the nature of the withheld documents, communications, or tangible things in a manner that, without revealing information itself privileged or protected, will enable the issuing party (Defendants Cascade Retail Holdings Inc. and Pinnacle Market Group Inc.) to assess the claim of privilege.
The privilege log required by this provision shall include, at a minimum, the information specified in Instruction B.3 of Attachment A (Schedule of Document Requests), and shall be served on the issuing party within five (5) business days of the production deadline.
If Nomad produces any document that it subsequently determines is protected by attorney-client privilege or work-product protection, Nomad may notify the issuing party of the claim of privilege, and the issuing party shall comply with the requirements of Federal Rule of Civil Procedure 45(e)(2)(B), including promptly returning, sequestering, or destroying the specified information and any copies.
Additionally, the parties and Nomad are subject to the Stipulated Clawback Order entered in Case No. 2:25-cv-01087-RAJ on June 9, 2025 (Dkt. No. 53), which governs the inadvertent production of privileged materials pursuant to Federal Rule of Evidence 502(d).
CERTIFICATE OF SERVICE
I, Aaron Liu, an attorney admitted to practice before this Court pro hac vice, hereby certify that on this 14th day of July, 2025, a true and correct copy of the foregoing Defendants' Subpoena Duces Tecum to Nomad Shops LLC Pursuant to Federal Rule of Civil Procedure 45, together with Attachment A (Schedule of Document Requests), Attachment B (Production Format Specifications), and Attachment C (Notice of Rights Under Rule 45), was served upon the following:
Subpoena Recipient (via personal service and electronic mail):
Nomad Shops LLC 45 Main Street, Suite 700 Brooklyn, NY 11201 Served by personal service through a licensed process server on July 14, 2025
Notice to Parties (via electronic service through the Court's CM/ECF system):
Claire Dunmore, Lead Trial Attorney Samuel Ortega, Senior Trial Counsel Rebecca Yun, Staff Attorney Federal Trade Commission Bureau of Competition, Mergers IV Division 600 Pennsylvania Avenue NW Washington, D.C. 20580
Email: cdunmore@ftc.gov; sortega@ftc.gov; ryun@ftc.gov
Counsel for Plaintiff Federal Trade Commission
Diana Whitfield, Partner Kenneth Oshiro, Partner Whitfield, Greer & Tanaka LLP 100 Congress Avenue, Suite 2200 Austin, TX 78701
Email: dwhitfield@wgtlaw.com; koshiro@wgtlaw.com
Counsel for Defendant Pinnacle Market Group Inc.
Martina Galloway, Partner Galloway & Peck LLP 60 East 42nd Street, Suite 2600 New York, NY 10165
Email: mgalloway@gallowaypeck.com
Counsel for Proposed Intervenor Independent Online Sellers Alliance
CALDERWOOD & HARKNESS LLP
By: ________
Aaron Liu Associate Calderwood & Harkness LLP 555 California Street, Suite 2700 San Francisco, CA 94104 Telephone: (415) 782-4400 Facsimile: (415) 782-4401
Email: aliu@calderwoodharkness.com
California State Bar No. 347821 Admitted Pro Hac Vice, W.D. Wash.
Date: July 14, 2025
Matter Reference: 1038-00001
FEDERAL TRADE COMMISSION, | Case No. 2:25-cv-01087-RAJ
Plaintiff, | The Honorable Richard A. Johannsen
v.
CASCADE RETAIL HOLDINGS INC. and PINNACLE MARKET GROUP INC., | DEFENDANTS' SUBPOENA DUCES TECUM TO NOMAD SHOPS LLC PURSUANT TO FEDERAL RULE OF CIVIL PROCEDURE 45
Defendants.