Class Action Suit Has Been Filed Against Robinhood For Restricting GameStop Trading
The trading app Robinhood was hit with a class action lawsuit on Thursday due to their restriction on trading Gamestop shares. Robinhood users found that they were unable to buy shares of companies such as AMC, Nokia, Gamestop, and Blackberry.
The lawsuit claims that Robinhood “purposefully, willfully, and knowingly removing the stock ‘GME’ from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market and manipulating the open-market.”
Although customers can sell their shares, they were unable to buy back into certain companies throughout the day.
Both Republicans and Democrats such as Ted Cruz and AOC have criticized Robinhood for their actions.
One thing is for sure, if AOC and Donald Trump Jr. agree on a problem, it’s most likely a major issue for all Americans.
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