TL;DR
In accordance with a U.S judge, the trading platform Robinhood Markets Inc should face market manipulation claims.This lawsuit was among the many brought contrary to the platform after it temporarily barred customers from purchasing stocks back Jan 2021, such as for example GameStop and AMC.Robinhood prices surged in-may following the CEO of FTX SBF announced he had purchased stake in the business.
Robinhood Judge Rules That Robinhood Should Face Market Manipulation Claims
In accordance with Reuters, a U.S Judge ruled on Thursday that trading platform Robinhood Markets Inc should face market manipulation claims.
Judge Cecilia Altonaga said within the ruling that investors in GameStop Corp (GME), AMC Entertainment Holdings INC (AMC), and seven other stocks could proceed together with the proposed class action lawsuit.
This lawsuit employs retail trading company Robinhood temporarily barred customers from buying certain stocks in January 2021.
The “meme stock rally” was mainly social media-fueled, plus the shares of the firms mentioned were involved with a brief squeeze that led Robinhood along with other trading platforms to restrict retail trading.
Attorneys for Robinhood didn’t answer a obtain comment.
Robinhood Stocks Soared after SBF Confirmed he previously Stake in company
Robinhood stock prices surged earlier in-may of the year following the CEO of crypto exchange FTX Sam Bankman-Fried announced he previously purchased a 7.6% stake in the business.
Ғариза таянып, дөйөм алғанда sbf 648 миллион доллар түләп алыу өсөн 7,6% акцияһы Robinhood.