Robinhood $9.9M Class Action Settlement

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Robinhood agreed to pay a $9.9 million settlement to resolve claims that account holders lost money due to March 2020 outages. No claim form is required to benefit from the settlement. Class members who do not exclude themselves will automatically receive settlement benefits. On March 2, March 3 and March 9, 2020, Robinhood allegedly suffered from outages during which account holders were unable to access their assets. As a result, account holders allegedly lost money as they were unable to make trades and other decisions that could have yielded a significant profit.