If you are an investor and have suffered losses as the result of Robinhood Financial, such as from outages or deactivation, please call 303-300-5022. Jeffrey Pederson is an attorney representing investors wrongfully suffering losses due to fraud and negligence. Initial consultations are free and confidential and representations are on a contingent fee basis. The Law Offices of Jeffrey Pederson has spoken with a number of Robinhood investors and may be able to help.
On or about January 29, 2021, Robinhood deactivated a number of accounts and limited the ability of others to purchase stocks. The deactivation and restrictions gave investors no ability to reach their funds or make necessary trades. No telephone access was given to these investors.
The account deactivations left many innocent investors without access to their option investments. Investors lost tens of thousands, and in some instances hundreds of thousands, of dollars due Robinhood’s system failure. Robinhood’s response is to offer $50 Amazon gift cards. Robinhood also sent investors correspondence acknowledging the problem. Unfortunately, like the gift cards, this does little help investors.
The case for loss must be sought through FINRA arbitration. FINRA is the self-regulatory organization that oversees brokerages like Robinhood. While most attorneys have no experience handling cases in such a forum, we have handled hundreds of FINRA arbitration cases over the past 17 years.
If you have suffered such losses, please call to discuss your rights and chances for recovery.