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FireannDireach 3 points ago +3 / -0

I'm looking at the TOS on the Robinhood site - the indemnification clause is one you should look at, and then the venue clause after it. By agreeing to the TOS, if you sue, you have to sue in Santa Clara, CA courts. Robinhood is not a small company - and they have staff lawyers and paralegals. They're hiring for a staff lawyer right now, on their website. So that $600 fee you think will damage them? Some staff lawyer will schlep over to the court and it won't cost them an extra dime, because it's part of that lawyer's salary.

Besides, the TOS is key. If they claim the ability to change trades at will, nothing will be accomplished in small claims. I'm not sure class action will get anything done, either. This is bigger than that. The SEC needs to step in, but they won't, because they're members of the Big Boys club, that includes all of Wall Street and the hedge funds.

I'm not a lawyer, so I'd want to run this by an actual lawyer to translate the TOS into real language, and find out if I had standing, before filing any suit. That's just common sense, to me.

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Nori 4 points ago +4 / -0

TOS and EULAs can say whatever they want, doesn't mean it's legal and will stand up in court.

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FireannDireach 1 point ago +1 / -0

Oh, you poor, naive soul.