Robinhood hit with class action lawsuit for not letting traders buy GameStop

The financial trading app Robinhood is been hit with a federal class action lawsuit after it restricted trades to stocks popular on the Reddit forum r/WallStreetBets.

The lawsuit, filed in the Southern District of New York on Thursday, alleges that the app “purposefully, willfully, and knowingly removing the stock ‘GME’ from its trading platform in the midst of an unprecedented stock rise, thereby deprived [sic] retail investors of the ability to invest in the open-market and manipulating the open-market.”

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