Audet & Partners, LLP is investigating claims as part of a Robinhood lawsuit on behalf of users of the Robinhood trading platform who were suddenly stripped of the opportunity to trade for Game Stop and other securities. The Robinhood brokerage platform has marketed itself primarily to younger individual investors and has experienced exponential growth in recent years. In 2019, Robinhood raised $323 million in funding at a valuation exceeding $7.5 billion.
After shares in GameStop Corp. (“GME”) experienced a meteoric rise in early January 2021, Robinhood suddenly pulled GME from its app thus depriving users from further trading for GME stock, depriving Robinhood users of potential monetary gains to be realized by the rise in GME stock valuation. Depriving users of the ability to trade for GME runs afoul of federal law governing the operation of brokers such as Robinhood which requires that the brokerage “make every effort to execute a marketable customer order that it receives promptly and fully.”
