Three Firms Tapped To Lead Robinhood Order Flow Suits

Law360 (April 12, 2021, 9:49 PM EDT) -- A California federal judge Monday consolidated five putative class actions from Robinhood users over the alleged failure to disclose the processes of payment for order flow, appointing Ahdoot & Wolfson PC, Bursor & Fisher PA and Liddle & Dubin PC as lead counsel.

U.S. District Judge Yvonne Gonzalez Rogers granted the unopposed motion from one of the five plaintiffs, Ji Kwon, to consolidate the cases against the popular securities trading app Robinhood Financial LLC and to appoint his preferred counsel.

"That said, the court is concerned that the leadership structure is too top heavy and may result in extra fees and...

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