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Comments (87)
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102
TwistedSister 102 points ago +102 / -0

Need to make that part of the lawsuit. Sue them for the profit you woulda made.

40
Hunter1970 40 points ago +40 / -0

They're basically just handing us free lawsuits at this point. Oblige them.

34
EvanGRogers 34 points ago +34 / -0

... ... you still think the judges will give a fair trial?

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deleted 33 points ago +33 / -0
9
AerialRush 9 points ago +9 / -0

Wait a minute, I've heard this script before!

12
Hunter1970 12 points ago +12 / -0

Nope, but it costs them time and money. Give them the Patreon treatment.

19
Gold-Eyed-Cat 19 points ago +19 / -0

I saw one guy had 4.5k shares Robinhood "sold for his own good" which at today's high lost him 2 million.

17
TwistedSister 17 points ago +17 / -0

Holy cow, sounds like a nice, fat lawsuit to me....

82
Redpillmachine 82 points ago +82 / -0

So grateful for all these decisions being made for me. Sell my shares, Algorithm adjust my votes, do whatever you like for "my own good".

14
TD_Covfefe_Crusader 14 points ago +14 / -0

The Left has to save you from yourself. They know what's best for you, trust them.

And be sure to wear quad masks, stay home, and practice social distancing.

3
davidmode 3 points ago +3 / -0

Quad? You need 17 masks to be safe! Or do you want grandma to die?!?!?

1
SouthernParadise 1 point ago +1 / -0

Make sure you do as Newsom says and stay at home 24/7, don’t you dare leave the house...oh and also you have a 10pm curfew.

2
MrCaveman 2 points ago +2 / -0

Don't forget about the nice manlady who wants everyone to get anal swabbed weekly, for their own good

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deleted 50 points ago +50 / -0
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Kraznaya 27 points ago +27 / -0

One has already been filed

13
EvanOnTheFly 13 points ago +13 / -0

Fuck class action. Get pennies.

Go for damages and calculate them at exactly where the high point was when "you woulda sold".

Then also draft an invoice at 1000$ an hour for putting up with their bs, and a commission of 3% on the whole thing and tack it in.

38
Belac186 38 points ago +38 / -0

Lol, this is fucked

35
Snugmeatsocks 35 points ago +35 / -0

How is that even legal?

51
EtTuRINOs 51 points ago +51 / -0

It isn't They'll be sued and honestly, possibly collapse (if judges have any sense). But that's a small fish sacrificed to save the big fish. Very clever on their part, though obviously panic-driven since it was done so quickly.

Robinhood goes broke, but hedge funds and banks save billions they'd have otherwise lost if trading went as normal for the next 2 days.

38
Kraznaya 38 points ago +38 / -0

Basically this. They realized it was cheaper to nuke Robinhood than to allow unrestricted trading. Talk about collusion and market manipulation...

16
UsernameChecksOutt 16 points ago +16 / -0

If there is nothing that is done to combat this, we might have a catalyst.

20
Kraznaya 20 points ago +20 / -0

The only combating that will occur is Robinhood will cease to exist and our "betters" will change the rules to prevent anything like this from happening again. They won't allow themselves to be threatened by the plebes.

At some point people are going to be left with literally nothing except violence as an outlet.

0
mrxforsenate19909902 0 points ago +1 / -1

Don't say that, you'll be called a glowie around here.

42
deleted 42 points ago +42 / -0
26
deleted 26 points ago +26 / -0
6
TD_Covfefe_Crusader 6 points ago +6 / -0

They don't even need Congress now to pass laws. Biden is ruling by executive fiat, like the illegitimate puppet he is.

6
TD_Covfefe_Crusader 6 points ago +6 / -0

This is correct. Rule of law died years ago and it's remains are mouldering away in the swamp.

12
slangin_paint 12 points ago +13 / -1

did you read all the terms and conditions before "accepting"?

26
EtTuRINOs 26 points ago +26 / -0

You can't put literally anything into terms and conditions.

There's no way they included a portion that allows them to sell your stock, regardless of your knowledge or agreement of such. If they did, they can still be sued.

7
slangin_paint 7 points ago +8 / -1

probably covered by the "we reserve the right to modify these terms at any time" clause.

16
EtTuRINOs 16 points ago +16 / -0

Doesn't matter. Not everything can be covered so easily. There are basic expectations from products and you cannot do just anything because you put it into your ToS. Back in Ebay's heyday, people lose civil suits where they try to sell pictures of an item when clearly the item was the expected product. "But the description says it's just a picture!!" Uh no... you cannot sell someone a picture of an iPhone for $700 and pretend you didn't mislead them.

The issue is judges ruling properly.

4
slangin_paint 4 points ago +4 / -0

that very last line sums it up nicely.

2
InHidingBecause 2 points ago +2 / -0

I still remember the smug look on that bitches face as she was trying to prove to judge judy that the ebay listing was for two iphone boxes, 500 each

7
EvilGuy 7 points ago +7 / -0

Some things are just illegal.

I can put that I reserve the right to murder you without consequence in my ToC but if I did it, I can't point to that and say "Ah ha! He agreed to be murdered right here Mr. Judge."

6
militarysnoopy 6 points ago +6 / -0

It's in most brokerages terms. They can close your positions if their risk management department see it as too much exposure in your portfolio.

5
sordfysh 5 points ago +5 / -0

Especially you cannot advertise yourself as a service that traditionally keeps your stocks safe, then have in your contract that they will do whatever they want with your stocks.

It's legal grey area, so a judge might allow it, but typically standard contracts must have expected provisions or else they must make the changes in expectations very apparent.

My guess is that RH will argue that it is a mutual fund, not a brokerage firm. And they will get crushed spectacularly by the courts. I have a feeling the courts may pierce the veil on this one based on the amount of publicity. People want metaphorical blood, and the political capital on the opposing side is weak. Expect to see the class action suit dig into the communications of Citadel. This one's either going to be a doozy or it's going to add kindling to the fire raging against the oligarchy.

3
residue69 3 points ago +3 / -0

Robinhood has done it before when users were buying on margin. It's a different story when users are playing with Robinhood's money.

3
ZoominLikeToobin 3 points ago +3 / -0

If it's a margin account they all make you agree to it when you sign up.

5
alpha_omega 5 points ago +5 / -0

The anon was probably trading with house money (i.e. borrowed) using a margin account. If that was the case, it's perfectly legal. If you're a big account they'd give you a courtesy call and opportunity to post more margin, but for small accounts they don't bother. The clause is buried under the agreement you sign when you open up a margin account.

1
PocketPosse 1 point ago +1 / -0

Im just about positive you are right. Its a shame all the knee jerk reactions are getting all the upvotes. People who have never used Robinhood Gold but are 100% sure they have a conspiracy all figured out.

2
julianReyes 2 points ago +6 / -4

Because you faggots didn't object to "hate speech measures." "Hate speech is not free speech," you whined. So now they can put in a clause that if you say something they don't like they can seize your assets.

9
Kraznaya 9 points ago +9 / -0

Pretty sure most people here oppose and opposed hate speech restrictions. "Hate speech is not free speech" is something the commies say, not us.

-1
julianReyes -1 points ago +2 / -3

No, people give themselves away through their actions and "compromise."

23
BuckyKatt60 23 points ago +23 / -0

Supposedly there has been a class action law suit filed against Robinhood in NY, I can't get the link to come up though

14
NamendaBiden 14 points ago +14 / -0

Up until 11/3 I NEVER would have believed something like this could happen. After 11/3 I am surprised by absolutely nothing.

5
Kraznaya 5 points ago +5 / -0

Every lie is certainly being revealed

13
julianReyes 13 points ago +13 / -0

No it's because the founder is heavily invested in Melvin Capital.

11
tholins 11 points ago +11 / -0

Wow, if that’s true, there definitely need to be lawsuits.

9
deleted 9 points ago +12 / -3
2
Bogey 2 points ago +2 / -0

Read Little Brother by Walter Mosley. It's about a character named Frendon who goes against the system.

9
deleted 9 points ago +9 / -0
1
ProphetOfKek 1 point ago +1 / -0

On a 6 yr old or the drug?

6
Joebriben 6 points ago +6 / -0

For your safety

6
GiveMe1776 6 points ago +6 / -0

It’s funny seeing all the people in disbelief. These are the same people who just stole the election for the leader of the free world. They don’t give any fucks. RobinHood may be sued into oblivion but the system will still be there.

Until people have to face the penalty of death (actually being killed by the people at will, not electric chair after a trial) for committing crimes against the American people absolutely nothing will change.

5
deleted 5 points ago +7 / -2
5
RedCat 5 points ago +5 / -0

TruSt ThE AlgOriTHm

1
spelunking_librator 1 point ago +1 / -0

this time it'll be different... this time we have an algorithm

5
udielikeulive 5 points ago +5 / -0

Only if you bought on margin, companies closing positions you bought from with a margin.........is a normal occurrence.

4
PatrickProtest 4 points ago +4 / -0

I like seeing the word "reportedly" in information delivery.

Seems safer than talking to hear yourself talk, and then having to rescind things like "this was all done by the alt-right!!!"

4
BigIgloo 4 points ago +4 / -0

Fucking Schwab did that to me last year. None of the brokers care about retail.

4
Staatssicherheit 4 points ago +9 / -5

Probably bought on margin and they raised the margin call to 100% of the stock's value. These people aren't stupid. They won't do anything blatantly illegal. It's about time people on this board grow up and stop underestimating the enemy.

8
Kraznaya 8 points ago +9 / -1

They won't do anything blatantly illegal

Excuse me? They do blatantly illegal stuff all the time and we just watched a cavalcade of it over the past two days week month year or so

0
Staatssicherheit 0 points ago +3 / -3

Instead of just attributing it to "they are doing blatantly illegal stuff", how about finding out what their actual argument and reasoning is? This is how they win. Through our naivety, ignorance and unfocused anger.

3
JoesMole 3 points ago +5 / -2

Are you retarded?

4
Kekistan_United 4 points ago +4 / -0

thats funny to me considering how many bullets and guns were sold in 2020

2
ProphetOfKek 2 points ago +2 / -0

Bought by larpers apparently.

1
Kekistan_United 1 point ago +1 / -0

swampers talk about taking away guns cus 'muh right wing terrorists'.

not cus they are affraid of larpers.

4
chahn1138 4 points ago +4 / -0

TOTALLY UNACCEPTABLE

Now, UNLESS I read about that Hedge Fund going under on Friday, I will KNOW that that we are OWNED BY THE BANKERS!

1
MrCaveman 1 point ago +1 / -0

Heh, paper money says Federal Reserve Note on it... "owned by bankers"...

4
zetaC 4 points ago +5 / -1

WTF????!!!!

4
Serioush 4 points ago +4 / -0

Can we find who is in charge of #robinhood and lynch them?

4
PatriotGabriel 4 points ago +4 / -0

Oh fuck. I hope this isn't allowed in their terms and conditions. Someone should read that

4
ChynaBiden 4 points ago +4 / -0

what?! how do they sell unless it was on margin

4
Formerlurker92 4 points ago +4 / -0

If I want to ride this shit show to the flaming trainwreck of an end that is my decision. No one else's

4
redstampede 4 points ago +4 / -0

This is more than class action lawsuit time. This is criminal.

3
Dudemanfoo 3 points ago +3 / -0

How long before everyone pulls their money out of the banks / market and stops paying their mortgages / insurance premiums / taxes?

3
Badradness 3 points ago +3 / -0

Well this is a rather large crime

3
deleted 3 points ago +3 / -0
3
SparTuckis 3 points ago +3 / -0

That's fucked up. They must be losing a looooootttt of money.

3
deleted 3 points ago +3 / -0
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deleted 2 points ago +2 / -0
2
Censorddit 2 points ago +2 / -0

America v robinhood and everyone involved. This this this is fucking outrageous.

No elec No speec No vot

No americ

2
meriwetherlewis 2 points ago +2 / -0

This is outrageous. Not just loss of profits, but them selling triggers HUGE tax obligations to the IRS. A brokerage cannot just do that on its own. It's bad enough to stop trading for an illegitimate reason. It's another to actually SELL without authorization. I would sue for specific performance requiring that Robinhood actually replace the shares of stock that that they sold for each account holder. That would require purchases, and take the stock back up.

2
Romey-Rome 2 points ago +2 / -0

Bet you only the ones sitting in red.

2
cowpen 2 points ago +2 / -0

I don't believe this is true.

2
h4yw1r3_ 2 points ago +2 / -0

they'll just take the legal hit and pay the customers the full value at sell time. I dont think its possible for them to recoup the 140% of stock possible though, they're going to fleece the fuck out of whoever the naked middleman is.

1
BritPedeMEGA 1 point ago +1 / -0

This has to be theft surely? Report the theft to be local police department that robin hoods registered address is at. Also there must be a US ombudsman of some type. (Fat lot of good it will probly do, but u gotta flood the zone)