Robinhood Outage Case Returned To Calif. State Court
Law360 (October 20, 2020, 5:33 PM EDT) -- A California federal judge has ruled that one of several lawsuits filed against the stock trading app Robinhood over a series of March service outages wasn't brought in connection with securities laws and shouldn't have been removed from state court.
U.S. District Judge James Donato remanded Robinhood customer Stanley Withouski's proposed class action to California Superior Court on Monday after finding the suit's claims weren't removable to federal district court under the Securities Litigation Uniform Standards Act of 1998 as Robinhood had claimed.
SLUSA precludes federal securities law claims from being litigated in a state law class action, but Judge Donato...
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