Robinhood sued by customers for restricting GameStop trading

Jan 28, 2021 · Robinhood customers have sued the stock trading firm after it restricted the Reddit-driven trading frenzy surrounding GameStop. Robinhood was named as defendant in a …

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Tampa Firm Files Class-action Lawsuit Against Robinhood Over …

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Feb 1, 2021 · When the market opened, GameStop rapidly rose from $263 to a peak of $483 per share within a span of 30 minutes, all while Robinhood customers were forced to watch from …

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The Real Story Behind Robinhood’s Decision To Restrict GameStop …

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Feb 2, 2021 · The real story behind Robinhood’s decision to restrict GameStop trading—and that 4 a.m. call to put up $3 billion Jeff John Roberts Tue, Feb 2, 2021, 6:00 PM 4 min read

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FAQs about Robinhood sued by customers for restricting GameStop trading Coupon?

Why is Robinhood suing GameStop?

In the New York lawsuit, Robinhood user Brendon Nelson, of Massachusetts, said the company had removed GameStop from its trading platform during an “unprecedented stock rise.” The lawsuit claims that Robinhood prevented individual investors of their ability to invest and manipulated the market. ...

Did Robinhood restrict trading on GameStop?

Two Robinhood users filed separate lawsuits against the brokerage app Thursday after it and other apps restricted trading of certain securities. The first lawsuit filed in the Southern District Court of New York alleges that Robinhood "purposefully, willingly, and knowingly" restricted certain securities transactions, including GameStop. ...

Did Robinhood stop investors from buying GameStop & AMC Entertainment stocks?

Robinhood defeated an appeal by customers who had sued the brokerage for imposing trading restrictions during the meme-stock frenzy of January 2021. The plaintiffs claimed they had lost money when Robinhood stopped investors from buying GameStop, AMC Entertainment and several other stocks. A federal judge dismissed the lawsuit. ...

Why did Robinhood win a lawsuit against'meme stock' investors?

Robinhood defeated a consolidated lawsuit accusing the online trading platform of causing "meme stock" investors' financial losses. Robinhood defeated a consolidated lawsuit accusing the online stock trading platform of causing investors’ financial losses by placing improper restrictions on their ability to buy high-flying “meme stocks.” ...

How many lawsuits have been filed against Robinhood?

The number of federal lawsuits alone filed in the past month are nearly as many as the roughly 50 suits filed against Robinhood in the 12 months before the trading halt. And already, several thousand people have signed up with DoNotPay.com to automatically join a class action lawsuit against Robinhood. ...

Why is there a lawsuit against Robinhood in Florida?

(AP Photo/Jeff Roberson) A class-action lawsuit has been filed in Florida against the trading app Robinhood for preventing its members from trading GameStop shares last week. The suit, filed in the Middle District of Florida in Tampa by the law firm Shumaker, seeks more than $5 million dollars in damages. ...