New class action against Robinhood alleges oligopoly manipulation
The unfolding short-squeeze on GameStop stock to the detriment of major hedge funds "could not be allowed to continue." Robinhood, the stock trading app formerly popular with millennials, is facing another class-action suit, following its recent temporary suspension of purchases of GameStop and other “meme-stocks” through its platform.The lawsuit, filed Jan. 29 in Houston, Texas, alleges that Robinhood, along with other named defendants including TD Ameritrade and WeBull, arrived at “a common understanding of what must be done, which they carried out with conscious parallelism.”Conscious....
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It's been more than a year, but investors continue to make allegations against Robinhood following the January 2021 controversy around trading GameStop and AMC stocks. Cryptocurrency and stock trading platform Robinhood will allegedly face allegations of market manipulation as part of a class-action lawsuit brought by investors in “meme stocks” from nine different companies during a January 2021 rally.According to a Thursday report from Reuters, United States District Court Judge Cecilia Altonaga of the Southern District of Florida ruled that investors in GameStop, AMC and seven other....
Law firm Scott+Scott alleges that Yuga Labs promoted a chance at huge returns on investment to “unsuspecting investors.” A proposed class-action lawsuit alleges that Yuga Labs “inappropriately induced” the community to buy Bored Ape Yacht Club non-fungible tokens (NFTs) and the project’s affiliated ApeCoin (APE) token.The proposed class-action driven by law firm Scott+Scott was published on July 21, claiming that Yuga Labs used celebrity promoters and endorsements to “inflate the price” of the BAYC NFTs and the APE token.It also alleges that Yuga Labs promoted the growth prospects and....
Alongside Coinbase itself, the class action names CEO Brian Armstrong, CLO Paul Grewal, other top executives and several of its venture capital backers as defendants. A Coinbase shareholder has filed a securities class action against Coinbase for allegedly misleading investors ahead of its public listing about the company’s financial state and resilience as a crypto trading platform.Filed by law firm Scott + Scott in California Northern District Court on Thursday, the class action names Coinbase shareholder Donald Ramsey as a plaintiff, both individually and on behalf of all other....
A class action suit has been filed against Joshua Garza, Stuart Fraser, and GAW Miners, LLC. This suit comes following the months-long legal proceedings involving the company, including a breach of contract suit from Mississippi Power Company over nearly $350,000 USD in unpaid electricity bills, and the SEC charging Garza and the company with security fraud in December of 2015. The formal complaint filed yesterday is the culmination of over a year of collecting evidence for the case after the Plaintiffs’ announcement of intent in April of 2015. The class action represents over ten thousand....
A class-action lawsuit has been filed against cryptocurrency exchange Coinbase, its executives, and investors over the company’s direct listing on Nasdaq. “According to the complaint, the registration statement and prospectus used to effectuate the company’s offering were false and misleading,” the lawsuit alleges. Class Action Lawsuit Against Coinbase Scott+Scott Attorneys at Law LLP announced Friday that it has filed a securities class action lawsuit against Coinbase Global Inc. (NASDAQ: COIN), with Donald Ramsey as the lead plaintiff. The lawsuit also names....