Robinhood Hit with Class Action After Blocking GameStop Trades
Found on Vice on Wednesday, 03 February 2021
Robinhood is already facing a class action lawsuit after the microtrading platform deliberately blocked users from trading GameStop stock as the stock catapulted in value.
Alexandria Ocasio-Cortez tweeted that "This is unacceptable. We now need to know more about [Robinhood's] decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit. As a member of the Financial Services [Committee], I'd support a hearing if necessary."
Surprising that Robinhood did not see that one coming when they made their decision.