December 17, 2024 A class action accuses Robinhood of breaching its contractual duties to customers by “sweeping” their cash deposits into accounts that pay unreasonable interest rates.
April 9, 2021 A class action alleges Robinhood defrauded those who placed orders on the brokerage platform between Sept. 2016 and June 2019 by concealing the practice of routing orders to a group of outside trading firms in exchange for compensation.
January 20, 2021 Robinhood faces another class action over its apparent failure to disclose that the majority of its revenue comes from high rates of payment for order flow.
January 4, 2021 A class action alleges Robinhood has misled novice users into executing inferior trades by failing to disclose that its revenue relies heavily on "payment for order flow" from market makers in exchange for executing trades.
