Will Robinhood defend itself in a class action lawsuit?

A federal judge ruled Thursday that Robinhood must defend itself in court against a class action lawsuit related to the online brokerage’s January 2021 decision to halt trading in exploding “meme stocks” like AMC and GameStop, several outlets reported Thursday, though Robinhood vows to “vigorously defend” itself in the case.

Was Robinhood hacked?

A $20 Million Class Action Lawsuit has been settled with Robinhood, a popular stock trading investment platform that can be used as a smartphone app, or via browser. The Robinhood class action lawsuit alleged that Robinhood did not take proper data security precautions, which led to account takeovers, or user accounts being hacked.

Will Robinhood financial pay a class-action settlement for a data breach?

A federal judge has given preliminary approval to a class-action settlement between Robinhood Financial and three customers who sued the company for alleged negligence related to a 2020 data breach. With the judge’s green light, notifications about the settlement will be sent out to eligible customers of the online investing platform.

How secure is Robinhood?

The stock-trading app lacks "almost universal security measures," according to a class action suit. Robinhood users whose accounts were accessed by unauthorized users are eligible for hundreds of dollars.