Robinhood seeks Nix MDL on “Meme Stock” restrictions

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Law360 (Aug 31, 2021, 5:18 p.m. EDT) – Robinhood and other financial services firms have pushed to dismiss major negligence and antitrust claims filed against them in a multi-district trade restriction litigation during the January “memes” trading frenzy.

Trading platform Robinhood on Monday sought to deny investor claims that its buying restrictions on volatile stocks such as GameStop Inc. and AMC Entertainment Holdings Inc. caused more than $ 10 billion in capitalization losses. stock market. Robinhood also joined a group of financial services companies such as Citadel Securities LLC and Apex Clearing Corp.

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