Today, McDonald Worley, advocate of the people, filed suit alleging Breach of Contract, Breach of the Implied Covenant of Good Faith and Fair Dealing, Negligence, Breach of Fiduciary Duty, Violations of the Sherman Act – 15 U.S.C. § 1 and Violations of State Antitrust Laws against Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Markets, Inc., TD Ameritrade, Inc., TD Ameritrade Clearing, Inc., TD Ameritrade Holding Corporation, The Charles Schwab Corporation, and Webull Financial LLC.
The Defendants, who provide trading applications for web and mobile devices, enacted restrictions on their online trading platforms after market volatility in an attempt to limit users’ ability to trade shares by restricting transactions to position closing only. Additional securities facing restrictions on the platform included American Airlines Group Inc, AMC Entertainment Holdings, BlackBerry LTD, Bed Bath & Beyond Inc., Castor Maritime Inc, Express, Inc, Koss Corporation, Naked Brand Group LTD, Nokia, Sundial Growers Inc, Tootsie Roll, and Trivago.
McDonald Worley is greatly concerned about these events and the financial ramifications that this may cause consumers who turned to the app to help shape their financial futures. By manipulating the trading platform, Robinhood deprived consumers the ability to use its services. Due to these blocked trades, users were limited in their ability to invest in their stock creating downward fluctuations in the market that may not have otherwise been there.
To bring justice to investors that may be impacted by these events, McDonald Worley encourages consumers to contact the firm at (281) 545-3130 or visit the website https://www.mcdonaldworley.com.
About McDonald Worley
The McDonald Worley law office serves victims nationwide. For the people affected, justice and holding the responsible party accountable matters.
In 2012, Newsweek featured McDonald Worley as one of the best trial lawyers in the United States; in 2013, Time Magazine listed McDonald Worley among the nation’s legal leaders. A member of “Leaders Forum” with The American Association for Justice, a prestigious group of trial lawyers, McDonald Worley is here to support you during your time of legal need.