Robinhood Faces Class-Action Lawsuit, Accusations of Forcibly Selling Users’ Stock Portfolios

Jan 28, 2021 | EARNINGS

The no-fee trading app Robinhood was forced to pay a $65 million fine last month for misleading users as to the cost of trading stocks on its platform. With its most recent move to block certain trades in a volatile market, critics accuse it of sacrificing its mission to “democratize” trading to defend the wealth of Wall Street hedge fund managers.

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