For convenience purposes, this tab only details the first identified complaint alleging negligence & breach of fiduciary duties.įor a complete list of class action complaints initially filed with the courts in connection with the January 2021 Short Squeeze, click here. The cases were later consolidated and grouped by types of violations (see “Lawsuit Progression”). Please note that numerous class action complaints against Robinhood (and other entities) were filed in early 2021. “A ll citizens of the United States who own or owned accounts on Robinhood’s trading platforms and as of Januat 5 pm EST own or owned securities of “GME”, “BB”, “NOK”, “AMC”, “BBBY”, “EXPR”, and “KOSS” which Defendants did not allow the purchase of those securities on Januand for Defendant TD Ameritrade, on January 27, 2021.“ The case was filed on behalf of all persons or entities in the United States that: This is the first-identified class-action complaint alleging negligence and breach of fiduciary duties.
We invite investors and shareholders to contribute to this investigation for their own benefit, add events to the factual timeline below and vote on events’ pertinence.Ī lawsuit was subsequently filed. This post is open for investors to gather facts, and findings and track their exposure to related lawsuits. (EXPR), Koss Corporation (KOSS), Naked Brand Group Ltd. Some of the suspended stocks included GameStop Corp. Did brokers breach their fiduciary duties of care, loyalty, and good faith to their customers in connection with the Reddit meme stocks?Īt end of January 2021, Robinhood and other brokers halted trading and/or restricted purchases and/or holdings of multiple stocks for more than a single trading session – January 28th – extending some of its restrictions for six trading sessions, through February 4th.
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