National investment loss lawyers KlaymanToskes continues investigating Robinhood’s 2021 operational outages on behalf of customers who suffered investment losses. The firm previously reported the filing of FINRA arbitration claim (Case No. 23-00257) on the behalf of a Robinhood customer who is seeking the recovery of $250,000 for the platform’s outage which inhibited his ability to trade call options in GameStop (NYSE: GME).
On January 28, 2021, Robinhood’s trading application froze and many customers were unable to access their accounts, resulting in investment losses that instead would have generated substantial gains. In this case, KlaymanToskes is representing a Robinhood customer who was unable to trade his GameStop shares as a result of the outage, when the stock rose to over $482 per share.
When the customer eventually managed to access his account, GameStop’s stock had declined and he lost the opportunity to realize a substantial gain in the call options. Had the customer been able to login and sell his call options on GameStop, he would have generated a profit of approximately $250,000.
Investors who sustained losses in excess of $100,000 due to Robinhood’s operational outages are encouraged to contact attorney Lawrence L. Klayman, Esq. for a confidential and free consultation at (888) 997-9956 or lklayman@klaymantoskes.com to discuss our investigation and recovery options.
We do not collect attorney’s fees unless we are able to obtain a financial recovery for you. Disclosure: Investors that did not sustain losses in excess of $100,000 are not eligible for our legal services.
KlaymanToskes believes the best solution for Robinhood investors seeking to recover investment losses is a FINRA (Financial Industry Regulatory Authority) arbitration claim.
Arbitration is generally the most cost-effective, timely, and rewarding method for investors seeking an investment loss recovery. Investors can learn more about the arbitration process and how it functions in our recent blog post, linked here.
Robinhood’s operational failures resulted in its failure to act in the best interest of its customers. In addition, Robinhood owed its customers various fiduciary duties, which it breached by not allowing its customers to access their accounts, causing significant damages. KlaymanToskes’ investigation revealed that the firm engaged in the following securities violations:
Customers of Robinhood who sustained losses in excess of $100,000 due to 2021 operational outages are encouraged to contact attorney Lawrence L. Klayman, Esq. for a free consultation at (888) 997-9956 or lklayman@klaymantoskes.com to discuss our investigation and recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com