As alleged in the Complaint, Robinhood’s trading systems completely crashed on Monday, March 2, 2020, and experienced a total outage of its operating systems. Throughout the entire trading day, Robinhood’s customers were prevented from making any securities trades through the firm’s website, app, or call center.
Plaintiff brings this class action on behalf of Robinhood customers who were denied access to their Robinhood trading accounts during the Outage and for the many, including herself, who suffered losses in their Robinhood trading accounts specifically as a result of their inability to place any securities or options trades during the Outage. Plaintiff asserts putative class action claims generally including breach of contract, negligence, breach of fiduciary duty, and violations of California consumer protection laws, on behalf of herself and all other Robinhood customers who are similarly situated. She seeks damages, restitution, and injunctive relief.
A copy of the Complaint can be viewed here: 001 – Complaint
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