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Robinhood Must Face Manipulation Claims Over Meme Trading

  • Judge cites ‘interesting legal questions’ in investors’ suit
  • Company says it stands by actions during ‘extraordinary’ event
GameStop Pares Rally To Double Digits As Retail Traders Pile In
Photographer: Tiffany Hagler-Geard/Bloomberg
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Robinhood Markets Inc. must face market manipulation claims from retail investors over its January 2021 decision to halt purchases of GameStop Corp. shares and other meme stocks during a social media-fueled trading frenzy.

A Miami federal judge dismissed some allegations against the platform, but is allowing others in a proposed investor class-action lawsuit to move forward.