Robinhood Financial Inc., facing lawsuits over crashes on its trading platform amid violent stock market swings, is now being accused of offering a “$75 goodwill credit” to dupe customers into waiving their legal rights.
Attorneys for users who are suing the beleaguered company asked a federal judge in Florida to order Robinhood to stop sending “misleading communications” and to void any releases already signed by customers.
“We view this type of activity by Robinhood as a calculated attempt to wipe out users’ class action claims without informing the users that they can instead participate in the class action should they so choose” lawyer Michael S. Taaffe said in a statement.
Robinhood spokespersons didn’t immediately respond to a request for comment. The company has called the outages “unacceptable” and has said it’s “focused on continuing to improve the stability of our service and the overall customer experience.”
Most firms place a limit on advisors’ sales of alternative investments to clients in the neighborhood of 10% a customer’s net worth.
Those jumping ship include women advisors and breakaways.
Firms in New York and Arizona are the latest additions to the mega-RIA.
The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.
“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
