Robinhood and five institutional trading firms were hit with a class action Tuesday in Florida Southern District Court over the stock trading app's payment for order flow and order routing practices. The suit, filed by Mac Legal PA, Cornish Hernandez Gonzalez and Levy & Partners, contends that Robinhood misleads customers regarding the payments it receives in exchange for sending orders to third-party trading firms for execution. Counsel have not yet appeared for the defendants. The case is 0:21-cv-61848, Alers v. Robinhood Financial LLC et al.
Technology
September 01, 2021, 3:33 AM