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Robinhood In A Tough Position As It Faces A Wave Of Lawsuits Over Gamestop Saga

by finance.yahoo.com posted 1month ago 15 views
Since the Robinhood mobile trading app temporarily blocked its customers from buying stock in GameStop (GME), AMC (AMC) Entertainment, and 11 other companies last Thursday, it has been hit with at least 33 federal lawsuits across the country. Filed in 10 states, including California, Florida, Illinois, and New York, most seek class action status and allege violations of securities laws or consumer protection statutes. Four securities law experts — a big-firm, defense-side litigator and three law professors — expressed widely divergent views about the suits’ viability.

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