Technology,
Securities,
Civil Litigation
Jan. 29, 2021
Lawsuits against Robinhood expected in its home state
“Robinhood’s actions were done purposely and knowingly to manipulate the market for the benefit of people and financial intuitions who were not Robinhood’s customers,” said one of the complaints against the Menlo Park-based company.
After retail investors were barred from buying stocks via the Menlo Park-based online trading app Robinhood, lawsuits were quickly filed throughout the nation Thursday, alleging the company purposefully blocked trades of companies such as GameStop, AMC, BlackBerry and others made popular on the Reddit forum r/WallStreetBets, to help hedge funds that had been negatively affected.
After the Reddit forum set the U.S. stock market ablaz...
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