Robinhood hit with class action lawsuit over GME trade restrictions

The super popular stock trading app Robinhood has been slapped with class action lawsuit with Southern District of New York.

@anthony256
Published Thu, Jan 28 2021 3:51 PM CST   |   Updated Thu, Mar 4 2021 1:07 PM CST

We knew it wasn't going to end well with trading app Robinhood over the $GME (GameStop) shares and $AMC (AMC Theaters) shares skyrocketing because of Reddit -- and a Mr. Robot / Fsociety-fueled stick-it-to-the-man-AND-the-system r/WallStreetBets and millions of normal people around the world like you and I.

Robinhood hit with class action lawsuit over GME trade restrictions 95 | TweakTown.com
VIEW GALLERY - 2 IMAGES

Well, now Robinhood has been slapped with a class action lawsuit claims that Robinhood "purposefully, willfully, and knowingly removing the stock 'GME' [GameStop] 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".

Get this, with the new limits that Robinhood has introduced -- its users will not be able to buy new stocks of companies such as GameStop, AMC, and BlackBerry -- the very stocks that WSB is pumping right now. You will be able to close out existing trades, but you won't be buying any $GME, $AMC, or $BB in Robinhood right now.

You can see why with some tweets! :)

Buy at Amazon

Mr. Robot

TodayYesterday7 days ago30 days ago
$24.99$24.99$24.99
* Prices last scanned on 5/14/2021 at 6:45 pm CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles