Litigation over a run on stock in GameStop and other companies—which touched off an abrupt trading halt on Jan. 28—has expanded beyond Robinhood and its customers, with attorneys now alleging a conspiracy to manipulate the market that involved several other online trading platforms, hedge funds and clearinghouses.

Robinhood halted trades of at least 13 companies last month after Reddit users and others bought up their stock, sending share prices soaring and threatening short sellers with potentially billions of dollars in losses. Most of the lawsuits first filed alleged consumer fraud and breaches of fiduciary duty against Robinhood on behalf of its customers, but the latest class actions brought claims under antitrust law, naming dozens of defendants such as hedge fund Citadel and brokerage firm TD Ameritrade Inc.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]