LONG BEACH, Calif.,
Feb. 5, 2021 /PRNewswire/ --
A class action lawsuit filed in California Southern District
Court on January 28, 2021 has been
amended to include six hedge fund companies worth billions of
dollars, a total of ten online brokers who manipulated the stock
market, and the thirteen stocks involved.
SIX HEDGE FUNDS AND NINE BROKERS ADDED TO ROBINHOOD CLASS
ACTION
The various brokers and hedge funds allegedly conspired together
to knowingly deprive retail investors of the ability
to invest in the open market during an unprecedented
stock rise, in order to benefit the hedge fund companies, such as
Citadel, Melvin Capital, and Maple Lane Capital. The lawsuit
alleges that the online brokers involved froze the everyday
investors out to enable the hedge funds to stop losing money when
the stocks rose in value.
The lawsuit continues to allege that Robinhood and nine
other online brokers failed to provide duty of care to
their customers and that they purposefully harmed their
customers positions in GameStop Corp (NYSE: GME) and twelve
other stocks, such as Blackberry, LTD (NYSE: BB), AMC
Entertainment Holdings Inc. (NYSE: AMC), Nokia Oyj (NYSE: NOK),
Koss Corporation (NYSE: KOSS), and Naked Brand Group Ltd
(NYSE: NAKD). The lawsuit is also alleging that Robinhood was
recently fined $1.5M by the SEC, and
a monitor has been assigned to watch their activities closely.
This class action is the first and only one to include all six
hedge funds, all ten brokers, and all thirteen stocks.
The case is 3:21-cv-00167, Nordeen et al v. Robinhood
Financial LLC et al.
The plaintiffs are represented by the Law Offices of Gary R
Carlin APC, a Long Beach based law firm.
If you have suffered losses or damages related to this
event and would like to join the class action, or if you have any
questions, please contact the Law Offices of Gary R Carlin APC
by e-mail at info@garycarlinlaw.com or through their
website at: classactionlawsuitrobinhood.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/law-offices-of-gary-r-carlin-apc-adds-six-hedge-funds-nine-brokers-and-thirteen-stocks-to-robinhood-class-action-301223239.html
SOURCE Law Offices of Gary R Carlin APC
