National investment fraud lawyers KlaymanToskes (“KT”) continues to investigate on behalf of investors who sustained losses in excess of $100,000 from the January 2021 trading restrictions imposed by Robinhood Financial, LLC (NASDAQ: HOOD). This is in light of the recent FINRA arbitration award, rendering Robinhood liable. If you were unable to place a sell order or to close your position due to Robinhood’s January 2021 platform failures, please contact us here.
According to the FINRA award, Robinhood was found liable for placing trading restrictions on its platform for certain stocks such as Koss (NASDAQ: KOSS) and Express, Inc. (NYSE: EXPR) at the height of the January 2021 stock rise. At the time, Robinhood stated that the trading restrictions were risk management decisions to protect the firm and its clearinghouses. After Robinhood announced the restrictions, the prices of Gamestop (NYSE: GME), AMC (NYSE: AMC), Nokia (NYSE: NOK), Blackberry (NYSE: BB), Koss (NYSE: KOSS), Bed Bath & Beyond (NASDAQ: BBBY), and Naked Brand (NASDAQ: NAKD) spiraled downward.
Former and current customers of Robinhood who have losses exceeding $100,000 resulting from the inability to place a sell order or to close a position in Gamestop, AMC, Nokia, Blackberry, Koss, Bed Bath & Beyond, and Naked Brand on Robinhood’s platform in January 2021, and who have information relating to the trading restrictions imposed by Robinhood on their accounts, are encouraged to contact KlaymanToskes here.
KT is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KT has recovered more than $225 million for investors in FINRA arbitrations. KT has office locations in California, Florida, New York, and Puerto Rico.
Lawrence L. Klayman, Esq.