A Florida state court judge Wednesday paused his order compelling a Russian businessman with alleged financial ties to Donald Trump's Truth Social platform to respond to a subpoena in the lawsuit over taking the company public, saying the act of producing documents could constitute irreparable harm.

During a hearing in Sarasota County, Florida, court, Circuit Judge Hunter W. Carroll denied Anton Postolnikov's motion to reconsider a prior ruling to produce documents related to the merger of the special purpose acquisition company and Trump Media & Technology Group Corp., but granted him a stay until Nov. 23 to allow a state appellate court to rule on the order.

Postolnikov, who isn't a party to the case, was ordered by Judge Carroll on Sept. 24 to produce documents and communications related to several defendants in the lawsuit. Postolnikov challenged the order on the grounds that it would violate his Fifth Amendment right against self-incrimination, saying he successfully asserted that right in a federal criminal investigation related to insider trading. Postolnikov hasn't been charged with a crime.

"I do not believe that there's a problem for Mr. Postolnikov as to the irreparable harm," Judge Carroll said. "If the court is wrong and the Fifth Amendment does apply to the act of producing these documents, at least those that I said had to be produced, then that itself would constitute irreparable harm. So, he has met that."

Trump Media brought the Sarasota County lawsuit in February 2024, claiming the merger with special purpose acquisition company Digital World Acquisition Corp. was delayed and incurred unnecessary costs after Digital World's then-CEO Patrick Orlando tried to enrich himself by threatening to block the process though his company Arc Global Investments II LLC. Other defendants in the lawsuit include investors Andrew Litinsky, Wesley Moss and United Atlantic Ventures LLC.

In a motion, Postolnikov asked Judge Carroll to reconsider or stay the order, saying any materials he produces could be acquired by the government in its insider trading investigation related to DWAC after he already invoked his Fifth Amendment rights. An FBI search warrant affidavit filed in December 2023 in the U.S. District Court for the District of Rhode Island said Postolnikov was a DWAC investor and liquidated most of his holdings in October 2021, receiving more than $22 million in profit.

Postolnikov said in his motion that he intends to appeal the order to Florida's Second District Court of Appeal for certiorari relief, saying the order departed "from the essential requirements of the law."

Mark R. Zimmerman of Zimmerman & Zimmerman, representing Postolnikov, argued at the hearing that the act of producing documents could be considered "testimonial" and trigger his client's Fifth Amendment rights. Producing the records could lead to further escalation of demands for information from the federal government and cause irreparable harm, Zimmerman added.

"The act of production may have some testimonial qualities sufficient to trigger Fifth Amendment protection when the production explicitly or implicitly conveys some statement of fact," Zimmerman said. "Specifically, an act of production could qualify as testimonial, conceding the existence, possession or control and authenticity of the docs intended to incriminate the producing party."

Whitney C. Cloud of DLA Piper, representing Trump Media, said Postolnikov can't show irreparable harm, arguing that the order departed from the essential requirements of the law.

Cloud referenced an exception to the Fifth Amendment privilege known as the forgone conclusion doctrine, or when producing documents reveals information that the government already knows.

She added that Postolnikov hasn't denied there are communications between him and Orlando, and has already produced evidence those communications occurred.

"We don't have to wonder," Cloud said. "We know that there were communications between and Mr. Orlando and Mr. Postolnikov."

Judge Carroll said if the Second District Court of Appeal doesn't extend the stay any further, Postolnikov would be required to produce documents by Nov. 24. He encouraged Postolnikov not to delay filing his appeal in order to give the appellate court enough time for a ruling.

Cloud said Postolnikov's records would be critical to upcoming depositions before the Nov. 21 deadline for the close of fact discovery in the case. Judge Carroll said he would consider reopening discovery.

"If he has to produce documents and there's no further stay by the Second District and those documents shed light that fundamentally changes the world, then we can talk about reopening targeted discovery," Judge Carroll said. "But I think this is the only way that I, given the rights Mr. Postolnikov has, given the Second District's time, I think this is where it really needs to go."

Trump Media is represented by Christopher G. Oprison, Tal Aburos, Caryn G. Schechtman, Eric Forni, Ronald N. Brown III, Josh Halpern, Whitney C. Cloud, Charles J. Hamilton and Steven M. Rosato of DLA Piper, Steven D. Hutton, Przemyslaw L. Dominko and Tyler B. Stall of Hutton Dominko & Stall PLLC, and Samuel J. Salario Jr., Jason B. Gonzalez and Mathew D. Gutierrez of Lawson Huck Gonzalez PLLC.

ARC Global Investments II is represented by Morgan R. Bentley of Bentley Goodrich Kison and Christopher King, Andrew Vitali III and Kevin P. Jacobs of Homer Bonner Jacobs Ortiz.

Orlando is represented by Adam L. Schwartz, Jeanah Park and Andrew T. Figueroa of Vedder Price PC.

United Atlantic Ventures, Wesley Moss and Andrew Litinsky are represented by Benjamin A. Butzin-Dozier and Christopher J. Clark of Clark Smith Villazor LLP, and Todd R. Legon and William F. Rhodes of Legon Fodiman PA.

Postolnikov is represented by Douglas R. Jensen of Sher Tremonte LLP and Mark R. Zimmerman of Zimmerman & Zimmerman.

The case is Trump Media & Technology Group Corp. et al. v. Arc Global Investments II LLC et al., case number 2024-CA-001061-NC, in the Twelfth Judicial Circuit Court of the State of Florida.