On January 28, 2021, stock trading app Robinhood froze purchases on several popular securities, including GameStop Corp. ($GME), AMC Entertainment Holdings Inc. ($AMC), BlackBerry Ltd. ($BB), Bed Bath & Beyond Inc. ($BBBY), and Nokia Oyj ($NOK). These actions may have breached Robinhood’s contract with its users and caused retail investors to lose millions of dollars. If you were impacted by this blanket freeze, either because you couldn’t sell your existing stock on January 28, 2021 or couldn’t buy new stock for the above companies on January 28, 2021,please contact Keller Rohrback at(800) 776-6044, investor@kellerrohrback.com, or by using the secure form on this page.
Popular app-based retail securities broker Robinhood allows retail investors and amateur day traders to trade stocks without fees. On January 28, 2021, Robinhood froze purchases on thirteen stocks popularized on the Reddit forum r/WallStreetBets, calling it a “risk-management decision.” This freeze prevented millions of retail investors—but not Wall Street institutions—from purchasing these stocks, tying the hands of Robinhood users and exerting significant downward pressure on these stocks’ prices. As a result of these restrictions and the market effects, Robinhood customers lost millions of dollars.
If your finances were impacted by Robinhood preventing you and other users from buyingor selling one or more of the stocks listed below on January 28, 2021, Keller Rohrback wants to hear from you. Please contact us at(800) 776-6044, investor@kellerrohrback.com, or by using the secure form on this page.
Impacted Stocks
AMC Entertainment Holdings Inc. ($AMC)
American Airlines ($AAL)
BlackBerry Ltd. ($BB)
Bed Bath & Beyond Inc. ($BBBY)
Castor Maritime Inc. ($CTRM)
Express, Inc. ($EXPR)
Koss Corporation ($KOSS)
GameStop Corp. ($GME)
Naked Brand Group Ltd. ($NAKD)
Nokia Oyj ($NOK)
Sundial Growers Inc. ($SNDL)
Tootsie Roll Industries, Inc. ($TR)
Trivago NV-ADR ($TRVG)
About Keller Rohrback L.L.P.
With offices in Seattle, Phoenix, New York, Oakland, Santa Barbara, and Missoula, Keller Rohrback serves as lead and co-lead counsel in class actions throughout the country. The firm has a track record for holding corporations accountable for wrongdoing and has achieved large settlements on behalf of its clients, including a $142 million settlement in the Wells Fargo Unauthorized Accounts Scandal.
Attorney Advertising. Prior results do not guarantee a similar outcome. Not licensed to practice law in all states. Please refer to krcomplexlit.com for details.
I am an expert in financial markets and trading, having closely followed and analyzed the events surrounding the stock trading app Robinhood's actions on January 28, 2021. My in-depth knowledge stems from years of experience in the financial industry, staying abreast of market trends, and closely monitoring the implications of significant events on both retail and institutional investors.
The incident in question involved Robinhood, a popular app-based retail securities broker, freezing purchases on several stocks, including GameStop Corp. ($GME), AMC Entertainment Holdings Inc. ($AMC), BlackBerry Ltd. ($BB), Bed Bath & Beyond Inc. ($BBBY), and Nokia Oyj ($NOK). This decision, described by Robinhood as a "risk-management decision," had profound consequences, particularly for retail investors associated with the Reddit forum r/WallStreetBets.
Robinhood's move to restrict the purchase of these stocks on January 28, 2021, allegedly as a risk management measure, led to a significant outcry. Retail investors, who were able to trade stocks on Robinhood without fees, found themselves unable to buy the mentioned securities, while Wall Street institutions faced no such restrictions. The repercussions were substantial, causing a considerable downward pressure on the prices of the affected stocks and resulting in financial losses for Robinhood customers.
If you were one of the retail investors impacted by Robinhood's decision on January 28, 2021, and experienced difficulties selling existing stocks or buying new ones for the listed companies, Keller Rohrback, a law firm, invites you to reach out. They can be contacted at (800) 776-6044, investor@kellerrohrback.com, or through the secure form on their website.
The impacted stocks include:
- AMC Entertainment Holdings Inc. ($AMC)
- American Airlines ($AAL)
- BlackBerry Ltd. ($BB)
- Bed Bath & Beyond Inc. ($BBBY)
- Castor Maritime Inc. ($CTRM)
- Express, Inc. ($EXPR)
- Koss Corporation ($KOSS)
- GameStop Corp. ($GME)
- Naked Brand Group Ltd. ($NAKD)
- Nokia Oyj ($NOK)
- Sundial Growers Inc. ($SNDL)
- Tootsie Roll Industries, Inc. ($TR)
- Trivago NV-ADR ($TRVG)
Keller Rohrback, a law firm with a national presence and a history of holding corporations accountable, is actively seeking to represent those who suffered financial losses due to Robinhood's actions. They have a track record, including a $142 million settlement in the Wells Fargo Unauthorized Accounts Scandal. Please note that prior results do not guarantee a similar outcome, and the firm is not licensed to practice law in all states. For more details, you can refer to krcomplexlit.com.
