Class Action Lawsuit Filed Against Robinhood
I&#x27;ve scanned the lawsuit (<a href="https:&#x2F;&#x2F;www.courtlistener.com&#x2F;recap&#x2F;gov.uscourts.nysd.553175&#x2F;gov.uscourts.nysd.553175.1.0.pdf" rel="nofollow">https:&#x2F;&#x2F;www.courtlistener.com&#x2F;recap&#x2F;gov.uscourts.nysd.553175...</a>). I&#x27;m not a lawyer, but my first reading of it is that this is not a strong lawsuit.<p>The complaint is largely framed around &quot;Robinhood prevented us from executing trades against GME, and it is contractually required to execute all trades.&quot; However, the actual contract explicitly says the opposite: Robinhood can choose to limit execution at its own discretion. So in order to win, plaintiffs basically have to get the relevant clauses of the contract to be ruled illegal. The extent to which this is possible is dependent on securities law which I am <i>very</i> unqualified to comment on, although I will note that the complaint does at least include some relevant allegations to what they need to do, which is better than other lawsuits I&#x27;ve seen (oh hi Parler).