Robinhood Users Face Uphill Fight For TRO In GameStop Suit
Law360 (February 10, 2021, 6:49 PM EST) -- A California federal judge indicated Wednesday that she is unlikely to issue a temporary restraining order or preliminary injunction against Robinhood Financial LLC to prevent it from blocking specific transactions on volatile stocks after a user suing the company said the online trading platform's recent actions were "unprecedented."
The lawsuit before U.S. District Judge Virginia Phillips is one of more than 30 civil suits Robinhood is facing over its decision late last month to block users from buying shares of GameStop, AMC and other volatile stocks recently caught up in a well-publicized trading frenzy.
Judge Phillips issued a tentative order before...
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