Robinhood Isn't Expected to Be Sued In Delaware Court Soon, if Ever
Robinhood's customers, not shareholders, are currently the ones upset with the company to the point of taking legal action over January's run on GameStop and other stocks.
February 05, 2021 at 04:48 PM
5 minute read
In the week after Robinhood restricted trading on GameStop and other stocks, outcry from the app's users and the public at large has unfolded into more than 50 lawsuits nationwide.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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