Robinhood Nears Settlement Over 2021 Meme Stock Trading Halt
The post Robinhood Nears Settlement Over 2021 Meme Stock Trading Halt appeared first on Coinpedia Fintech News
Trading platform Robinhood is soon to settle a lawsuit with its investors, who claimed to have incurred damages from its 2021 halt on meme stock trading, which includes GameStop. On May 28, Robinhood’s lawyers informed a federal court in Miami that the settlement of this case is almost complete, expecting a resolution within two weeks. Blue Laine-Beveridge led the allegations against Robinhood, accusing it of market manipulation, resulting in major investor losses due to trade restrictions enforced from January 28 to February 4, 2021. The details of this settlement, however, have not yet been disclosed. This case is part of the broader litigation concerning Robinhood’s actions during the meme stock frenzy.
