New class action against Robinhood alleges oligopoly manipulation By Cointelegraph

New class action against Robinhood alleges oligopoly manipulation
New class action against Robinhood alleges oligopoly manipulation

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:) 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:) and WeBull, arrived at “a common understanding of what must be done, which they carried out with conscious parallelism.”

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