It's more like:
"Hey, don't attempt to hide/alter/destroy evidence - because if you go forward and serve us we want to go through EVERYTHING with a fine tooth comb, including CURRENT Axanar Productions financials because as we see it - you OWE RMB a LOT of back pay (oh and the California Labor Commissioner and the Labor Board he oversees may take issue with how you've treated Mr. RMB; so yeah, we need those records...DON'T LOSE OR DESTROY THEM AS THAT'S A CRIME...as this 'Legal Hold' letter states.) And I've asked your own legal counsel to advise you on this so you don't need to take my word for it."