![]() ![]() Robinhood, the online trading app, said on Thursday that it was raising an infusion of more than $1 billion from its existing investors…. We don’t trust that these guys have the cash to be able to withstand settling these things two days from now, because in two days, who knows what the price could be, it could be zero.’” “It’s the DTCC saying ‘This stuff is just too risky. “It’s not really Robinhood doing nefarious stuff,” said Bloomberg Intelligence analyst Larry Tabb. The firm has collected information from more than 6,000 people as it investigates Robinhood, attorney Philip Vujanov told CNN. The firm's homepage currently has a prompt titled, "Are you a Robinhood user who has suffered losses?" along with a way for people to submit information. One law firm that Redditors have engaged with is ChapmanAlbin LLC, based in Cleveland, Ohio, which specializes in investments and financial fraud. It collected more than 31,000 users Thursday. "Robinhood's actions were done purposefully and knowingly to manipulate the market for the benefit of people and financial institutions who were not Robinhood's customers," the lawsuit states….įollowing Robinhood's decision earlier Thursday morning, Redditors stood up a new forum, r/ClassActionRobinHood, to coordinate efforts for a lawsuit. A Robinhood customer filed a class-action lawsuit against the stock-trading app Thursday after the company barred traders from buying shares of GameStop promoted by WallStreetBets, a popular Reddit group for investors…. ![]()
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