Diverse Team To Lead MDL Against Robinhood, Other Brokers

Law360 (May 18, 2021, 9:58 PM EDT) -- A diverse group of 10 attorneys will guide investors' claims in multidistrict litigation against stock-trading app Robinhood and other broker-dealers for blocking investors from buying shares of GameStop and other volatile stocks earlier this year, under appointments made by a Florida federal court Tuesday.

Miami-based U.S. District Judge Cecilia M. Altonaga, who is overseeing the MDL, divided the litigation into four tranches, or groups, focused on state law claims against Robinhood, similar claims against other brokers, antitrust claims and federal securities law claims.

The order also established a leadership structure and appointed attorneys to fill those roles for the nonsecurities law...

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