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New class action against Robinhood alleges oligopoly manipulation

Published 02/03/2021, 07:59 AM
Updated 02/03/2021, 09:40 AM
New class action against Robinhood alleges oligopoly manipulation
GME
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AMTD
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Robinhood, the stock trading app formerly popular with millennials, is facing another class-action suit, following its recent temporary suspension of purchases of GameStop (NYSE:GME) and other “meme-stocks” through its platform.

The lawsuit, filed Jan. 29 in Houston, Texas, alleges that Robinhood, along with other named defendants including TD Ameritrade (NASDAQ:AMTD) and WeBull, arrived at “a common understanding of what must be done, which they carried out with conscious parallelism.”

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Latest comments

RH trading restrictions reduced volume and purchases causing the price to drop and gave HFs time to reduce short positions.
Caught with trousers down.
or even pants down.
Tottally market manipulation!
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