Class Actions Filed Against Robinhood Over GameStop Stock Restrictions

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.

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Steve Larson

An experienced trial lawyer who handles both hourly and contingent fee cases, Steve has expertise in class actions, environmental clean-up litigation, antitrust litigation, securities litigation, corporate disputes, intellectual property disputes, unfair competition claims, and disputes involving family wealth. Steve regularly represents individuals and businesses in federal and state court and has obtained class-wide recovery in multiple class actions. A veteran practitioner, Steve’s clients value his creative approach to resolving complex litigation matters.


Legal Disclaimer

The information contained in this blog does not constitute legal advice, and does not create an attorney-client relationship. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this blog.