On January 28, 2021, stock trading app Robinhood froze purchases on several popular securities, including GameStop Corp. ($GME), AMC Entertainment Holdings Inc. ($AMC), BlackBerry Ltd. ($BB), Bed Bath & Beyond Inc. ($BBBY), and Nokia Oyj ($NOK). These actions may have breached Robinhood’s contract with its users and caused retail investors to lose millions of dollars. If you were impacted by this blanket freeze, either because you couldn’t sell your existing stock on January 28, 2021 or couldn’t buy new stock for the above companies on January 28, 2021, please contact Keller Rohrback at (800) 776-6044, [email protected], or by using the secure form on this page.
Popular app-based retail securities broker Robinhood allows retail investors and amateur day traders to trade stocks without fees. On January 28, 2021, Robinhood froze purchases on thirteen stocks popularized on the Reddit forum r/WallStreetBets, calling it a “risk-management decision.” This freeze prevented millions of retail investors—but not Wall Street institutions—from purchasing these stocks, tying the hands of Robinhood users and exerting significant downward pressure on these stocks’ prices. As a result of these restrictions and the market effects, Robinhood customers lost millions of dollars.
If your finances were impacted by Robinhood preventing you and other users from buying or selling one or more of the stocks listed below on January 28, 2021, Keller Rohrback wants to hear from you. Please contact us at (800) 776-6044, [email protected], or by using the secure form on this page.
Impacted Stocks
AMC Entertainment Holdings Inc. ($AMC)
American Airlines ($AAL)
BlackBerry Ltd. ($BB)
Bed Bath & Beyond Inc. ($BBBY)
Castor Maritime Inc. ($CTRM)
Express, Inc. ($EXPR)
Koss Corporation ($KOSS)
GameStop Corp. ($GME)
Naked Brand Group Ltd. ($NAKD)
Nokia Oyj ($NOK)
Sundial Growers Inc. ($SNDL)
Tootsie Roll Industries, Inc. ($TR)
Trivago NV-ADR ($TRVG)
About Keller Rohrback L.L.P.
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