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IN RE: January 2021 Short Squeeze Trading Litigation

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Case overview

Case Number:

1:21-md-02989

Court:

Florida Southern

Nature of Suit:

Contract: Other

Multi Party Litigation:

Class Action, Multi-district Litigation

Judge:

Cecilia M. Altonaga

Firms

Companies

Sectors & Industries:

  1. April 22, 2024

    Robinhood 'Meme Stock' Investors Lose New Class Cert. Bid

    A Florida federal judge has denied a bid from Robinhood investors to file a new motion for class certification in a suit over the trading platform's suspension of so-called meme stock purchases, saying the deadline for class certification has passed and the investors have not shown a good reason to extend it.

  2. March 13, 2024

    Robinhood Says Investors Shouldn't Get Discovery Extension

    Trading platform Robinhood has told a Florida federal court that it should not be required to produce documents requested by investors in their "eleventh hour" motion to extend discovery in a suit alleging investors were damaged when Robinhood suspended purchases of so-called meme stocks to avoid a purported liquidity problem.

  3. November 14, 2023

    Investors Denied Class Cert. In Robinhood Meme Stock Suit

    A Miami federal judge has refused to certify a class of investors in so-called meme stocks who alleged they were hurt when trading platform Robinhood suspended purchases of those stocks to avoid a purported liquidity problem, finding the investors failed to show that common issues predominate their claims.

  4. May 01, 2023

    Investors Seek Cert. In Robinhood 'Meme Stock' MDL

    Investors in so-called meme stocks who allege they were hurt when trading platform Robinhood suspended purchases of those stocks to avoid a purported liquidity problem have asked a Miami federal judge to certify their proposed class, contending that the company has made a number of "unorthodox, convoluted" arguments that should not prevent the class from being certified.

  5. January 10, 2023

    Apex Meme Stock Suit Loses On 4th And Final Try

    Meme stock investors failed in their last attempt to plead claims against broker-dealer Apex Clearing Corp. after a Florida federal judge on Monday dismissed their suit looking to hold Apex liable for trading losses and declined to give them another shot at amending their complaint.

  6. October 17, 2022

    Robinhood Investors Urge 11th Circ. To Save Meme Stock Suit

    Investors who brought a proposed class action against Robinhood Markets Inc. alleging it illegally restrained trading on its app have urged the Eleventh Circuit to reverse the dismissal of their case, arguing a lower court wrongly determined the claim is inapplicable because the company's business is too different from that of another defendant.

  7. August 11, 2022

    Robinhood Can't Yet Ditch 'Meme Stock' Manipulation Claims

    A Florida federal judge on Wednesday refused to throw out investors' claims that Robinhood manipulated the stock market when it restricted trading on "meme stocks" during last year's market volatility, finding that they've plausibly alleged that Robinhood acted willfully to lower the prices of the affected stocks.

  8. June 23, 2022

    Traders' 4th Bite At 'Meme Stock' Apple Still Rotten, Apex Says

    "Meme stock" investors have once again failed to show that broker-dealer Apex Clearing Corp. caused their trading losses and failed in its duty to them, the firm told a Florida federal court in a bid to dismiss the traders' fourth complaint.

  9. May 13, 2022

    Robinhood Gets 'Meme Stock' Antitrust Claims Axed For Good

    A Florida federal judge has dismissed investors' third attempt to plead antitrust claims against Robinhood and Citadel Securities for purportedly blocking investors from buying "meme stocks" during last year's market volatility, ruling that the investors failed to adequately allege a conspiracy between the stock-trading platform and the financial services firm.

  10. February 22, 2022

    Robinhood Says Investors' Antitrust 'Meme Stock' Claims Fail

    Robinhood and Citadel Securities are urging a Florida federal judge to toss investors' third attempt to plead antitrust claims against the stock-trading platform and financial services firm for allegedly blocking investors from buying "meme stocks" during last year's market volatility.

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