Stock Trading App Robinhood Sued Over Trading Restrictions
The lawsuit claims the app ‘deprived retail investors of the ability to invest in the open-market.’
THE STOCK TRADING APP Robinhood was sued Thursday after it restricted trading of stocks that were made popular on an internet forum.
The lawsuit, filed in U.S. District Court in Manhattan, argues that the day-trading app “purposefully, willfully, and knowingly removing the stock ‘GME’ [GameStop] from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market and manipulating the open-market.”
The Week in Cartoons: Jan. 25–29
https://colonialbeachva.net/community/profile/wandavision-season-1-episode-4-full-online/
The plaintiff, Brendan Nelson, is described in the lawsuit as a Robinhood customer who was unable to purchase GameStop stock as it increased. The lawsuit asks the court to order an immediate reinstatement of GameStop on Robinhood app and requests an undetermined reward.
Robinhood said in a statement Thursday it would be restricting transactions, including for AMC, BlackBerry and GameStop, “in light of current market volatility.” Users will be allowed to close out existing trades but won’t be able to buy new shares of stocks.
The lawsuit comes after Robinhood users, bolstered by a Reddit forum, in recent days skyrocketed the price of several cheap stocks, including GameStop, by buying it in bulk.
Alexa Lardieri, Staff Writer
Alexa Lardieri is a reporter and digital producer for the Civic section of U.S. News & World … READ MORE
Tags: stock market, hedge funds, courts
THE STOCK TRADING APP Robinhood was sued Thursday after it restricted trading of stocks that were made popular on an internet forum.
The lawsuit, filed in U.S. District Court in Manhattan, argues that the day-trading app “purposefully, willfully, and knowingly removing the stock ‘GME’ [GameStop] from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market and manipulating the open-market.”
The Week in Cartoons: Jan. 25–29
View All 27 Images
The plaintiff, Brendan Nelson, is described in the lawsuit as a Robinhood customer who was unable to purchase GameStop stock as it increased. The lawsuit asks the court to order an immediate reinstatement of GameStop on Robinhood app and requests an undetermined reward.
Robinhood said in a statement Thursday it would be restricting transactions, including for AMC, BlackBerry and GameStop, “in light of current market volatility.” Users will be allowed to close out existing trades but won’t be able to buy new shares of stocks.
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The lawsuit comes after Robinhood users, bolstered by a Reddit forum, in recent days skyrocketed the price of several cheap stocks, including GameStop, by buying it in bulk.
Alexa Lardieri, Staff Writer
Alexa Lardieri is a reporter and digital producer for the Civic section of U.S. News & World … READ MORE
Tags: stock market, hedge funds, courts
THE STOCK TRADING APP Robinhood was sued Thursday after it restricted trading of stocks that were made popular on an internet forum.
The lawsuit, filed in U.S. District Court in Manhattan, argues that the day-trading app “purposefully, willfully, and knowingly removing the stock ‘GME’ [GameStop] from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market and manipulating the open-market.”
The Week in Cartoons: Jan. 25–29
View All 27 Images
The plaintiff, Brendan Nelson, is described in the lawsuit as a Robinhood customer who was unable to purchase GameStop stock as it increased. The lawsuit asks the court to order an immediate reinstatement of GameStop on Robinhood app and requests an undetermined reward.
Robinhood said in a statement Thursday it would be restricting transactions, including for AMC, BlackBerry and GameStop, “in light of current market volatility.” Users will be allowed to close out existing trades but won’t be able to buy new shares of stocks.
The lawsuit comes after Robinhood users, bolstered by a Reddit forum, in recent days skyrocketed the price of several cheap stocks, including GameStop, by buying it in bulk.
Alexa Lardieri, Staff Writer
Alexa Lardieri is a reporter and digital producer for the Civic section of U.S. News & World … READ MORE
Tags: stock market, hedge funds, courts
THE STOCK TRADING APP Robinhood was sued Thursday after it restricted trading of stocks that were made popular on an internet forum.
The lawsuit, filed in U.S. District Court in Manhattan, argues that the day-trading app “purposefully, willfully, and knowingly removing the stock ‘GME’ [GameStop] from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market and manipulating the open-market.”
The Week in Cartoons: Jan. 25–29
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The plaintiff, Brendan Nelson, is described in the lawsuit as a Robinhood customer who was unable to purchase GameStop stock as it increased. The lawsuit asks the court to order an immediate reinstatement of GameStop on Robinhood app and requests an undetermined reward.
Robinhood said in a statement Thursday it would be restricting transactions, including for AMC, BlackBerry and GameStop, “in light of current market volatility.” Users will be allowed to close out existing trades but won’t be able to buy new shares of stocks.
The lawsuit comes after Robinhood users, bolstered by a Reddit forum, in recent days skyrocketed the price of several cheap stocks, including GameStop, by buying it in bulk.
Alexa Lardieri, Staff Writer
Alexa Lardieri is a reporter and digital producer for the Civic section of U.S. News & World … READ MORE
Tags: stock market, hedge funds, courts
THE STOCK TRADING APP Robinhood was sued Thursday after it restricted trading of stocks that were made popular on an internet forum.
The lawsuit, filed in U.S. District Court in Manhattan, argues that the day-trading app “purposefully, willfully, and knowingly removing the stock ‘GME’ [GameStop] from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market and manipulating the open-market.”
The Week in Cartoons: Jan. 25–29
View All 27 Images
The plaintiff, Brendan Nelson, is described in the lawsuit as a Robinhood customer who was unable to purchase GameStop stock as it increased. The lawsuit asks the court to order an immediate reinstatement of GameStop on Robinhood app and requests an undetermined reward.
Robinhood said in a statement Thursday it would be restricting transactions, including for AMC, BlackBerry and GameStop, “in light of current market volatility.” Users will be allowed to close out existing trades but won’t be able to buy new shares of stocks.
The lawsuit comes after Robinhood users, bolstered by a Reddit forum, in recent days skyrocketed the price of several cheap stocks, including GameStop, by buying it in bulk.
Alexa Lardieri, Staff Writer
Alexa Lardieri is a reporter and digital producer for the Civic section of U.S. News & World … READ MORE
Tags: stock market, hedge funds, courts
