Technology,
Civil Litigation
Mar. 31, 2021
Robinhood says lawsuits over stock transactions are securities actions
Robinhood argues its move to block certain stock purchases directly affected users’ trading decisions.
App users who alleged state law claims in connection with Robinhood's blocking of certain stock transactions in January cannot dress them up as "a garden variety consumer case," the platform argued in its latest fight to have the case proceed as a securities action in federal court.
Plaintiff Taylor Thompson filed a proposed class action in Los Angeles County Superior Court against Robinhood Financial LLC in February after he said h...
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