Rosen Law Firm To Lead Class In Robinhood MDL

By Katryna Perera (October 15, 2021, 7:33 PM EDT) -- A Florida federal judge appointed the Rosen Law Firm PA on Friday to lead multidistrict litigation that alleges stock-trading app Robinhood caused more than $10 billion in market capitalization losses after its customers were hit in January with trading restrictions on certain stocks.

Rosen beat out Bursor & Fisher PA, which had also filed a bid in July to serve as lead counsel.

According to Friday's order, Robinhood user Blue Laine-Beveridge will serve as lead plaintiff. Laine-Beveridge claims he lost nearly $122,400 in connection with Robinhood's decision to restrict trading in certain stocks that surged during a trading frenzy earlier this...

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