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Robinhood Reaches Settlement of Suits Over 2020 Trading Outage

Robinhood Users Had Accounts Looted, Say There's No One To Call
Photographer: Gabby Jones/Bloomberg

Lawyers for Robinhood Markets Inc. said they had reached an agreement in principle to resolve litigation by some investors who were blocked from trading shares in high-flying stocks during an outage in March 2020. No details were disclosed.

“Once final details are resolved, and within 60 days of this notice, the parties will file a motion for preliminary approval of the settlement,” the attorneys said in a federal court filing Thursday.