Popular online stock trading platform, Robinhood, was slapped with federal lawsuits in both New York and Illinois on Thursday, January 28, 2021 by independent investors in potential class actions. Now, numerous other putative class actions have been filed against Robinhood. The lawsuits stem from Robinhood’s decision to block their users from purchasing GameStop shares, in addition to the shares of several other companies.
It is unclear if and how these cases will proceed. Marcia Brown of The American Prospect provides an in depth look at these cases and how they may be impacted by forced arbitration clauses that corporations are using to protect themselves and how Congress could fix these issues in the article “How the Supreme Court Protects Robinhood.”
This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.
