July 5, 2022

News of the Trade

Latest trading, investing, and financial news

Robinhood Reportedly Settles Over 2020 Outage

Robinhood has reportedly agreed to settle a class-action lawsuit filed by users who alleged the app’s outages in March 2020 amid the steep stock market drop prevented them from trading.

Attorneys for Robinhood said in a federal court filing Thursday that they’ve reached a settlement, according to Bloomberg and Reuters.

Details of the settlement weren’t disclosed.

Robinhood didn’t immediately respond to a request for comment.

The stock-trading app went down on March 2 and March 9, 2020, as the stock market plunged due to COVID-19 fears in the early days of the pandemic.