Robinhood Reaches Deal With Customers In Outage Suit

By Hailey Konnath (May 27, 2022, 9:48 PM EDT) -- Robinhood has reached an agreement in principle with customers suing over repeated service outages, according to a notice filed in California federal court Thursday.

The notice didn't include the specifics of the deal. But Robinhood and the account holders said that the final details would be hammered out within two months, at which time they'd file a motion for preliminary approval of the settlement.

The Robinhood users had been looking to certify a class of nearly 7 million account holders. The litigation centers on a series of outages in 2020 they say were caused by the company's "reckless, profit-driven manner," including...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!