Robinhood to pay $70M for 'misleading' customers, systems outages

[Lost_in_the_HTTP]

Don't know much about this stuff, but ....



U.S. News // 1 hour ago
Robinhood to pay $70M for 'misleading' customers, systems outages
June 30 (UPI) -- The Financial Industry Regulatory Authority on Wednesday fined trading app Robinhood $57 million and ordered it to pay $12.6 million in restitution for "misleading" customers and systems outages last year.

Robinhood to pay $70M for 'misleading' customers, systems outages - UPI.com

The Financial Industry Regulatory Authority on Wednesday fined trading app Robinhood $57 million and ordered it to pay $12.6 million in restitution for "misleading" customers and systems outages last year.

www.upi.com

 

[conehead433]

They should have to pay every penny that investors using their platform lost by not being allowed to make trades. The $70 million is nothing compared to the few billion that Robinhood helped save their Hedge Fund buddies. And even after all that people still use their platform. Idiots.

 

[nickqt]

They should have to pay every penny that investors using their platform lost by not being allowed to make trades. The $70 million is nothing compared to the few billion that Robinhood helped save their Hedge Fund buddies. And even after all that people still use their platform. Idiots.

Not to defend Robinhood, but I mean, which brokerages aren't full of shitbird criminals who inside deal to themselves?

For most of all white collar criminals, fines that are mostly fractions of the profits are just costs of doing business.

 

[Lost_in_the_HTTP]

Hope they have a big nestegg stashed away ...

Robinhood settles wrongful death lawsuit of 20-year-old trader - UPI.com

Trading app Robinhood settled a wrongful death lawsuit filed on behalf of Alex Kearns, 20, who died by suicide in June 2020 after mistakenly believing he owed $730,000 through his account on the trading app.

www.upi.com

 

[Vic]

They should have to pay every penny that investors using their platform lost by not being allowed to make trades. The $70 million is nothing compared to the few billion that Robinhood helped save their Hedge Fund buddies. And even after all that people still use their platform. Idiots.

The interesting thing about GME is that for every hedge fund that was shorting it, there was another hedge fund that had been stuck in a long position.