FAQ

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Frequently asked questions

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  • Miscellaneous
What is this case about?

If you are a Robinhood trader who suffered losses in GME, AMC, BB, BBBY, NOK, NAKD, KOSS, or EXPR after Robinhood’s decision to restrict trading in those stocks, sign up now to protect your rights through FINRA arbitration.

You may have been one of many individual traders using Robinhood to buy Gamestop and other stocks during January 2021. During the week of January 25, the price of Gamestop stock increased over 200% due to a large number of people buying the stock, and other stocks saw similar increases. On January 28, Robinhood announced it was restricting its traders from opening new positions in Gamestop, AMC, Nokia and other stocks. It allowed its customers to sell their positions only and closed other positions without warning. After Robinhood’s announcement, the prices of Gamestop, AMC, and many other stocks Robinhood restricted plummeted.

If you were using Robinhood to trade Gamestop or other stocks, you may qualify for this case. Sign up now to begin the process.

Who can qualify for this case?
If you are a Robinhood trader who held stocks or options in any of GME, AMC, BB, BBBY, NOK, NAKD, KOSS, or EXPR on January 27 and your position declined, you qualify. You can qualify if you lost money overall in those securities, if you made a profit, or if you are still holding, so long as you held any of these positions on January 27.
Do I need a Robinhood account to qualify?
Yes, you need to have a Robinhood account and have suffered losses in the stocks on Robinhood to be able to qualify for this case.
Once I sign up, how does the process work?
Once you sign up, you'll be asked to sign our attorney-client agreement. That allows us to investigate your private FINRA arbitration claim. Then, log in to your secure client portal. All information is strictly privileged and confidential and will only be used for your claim. Answer a few more questions, upload a few documents, and we’ll take it from there. We’ll analyze your claim and your losses, negotiate with the company, and, if necessary, pursue your claim in arbitration.
How much did I need to lose to qualify?
During sign up, you should accurately state how much you think you have lost due to Robinhood's conduct so we can better advise you about your legal rights. There is no bar to signing up based on how much you lost. However, you need to have suffered losses, or a decrease in the value of your positions, on Robinhood.
Is this a class action?
No. Neither Labaton Sucharow, Dimond Kaplan, or Levin Law are affiliated with any of the existing class actions against Robinhood related to Gamestop trading restrictions. If you sign up with us, you will have an individual claim that will be evaluated based on your own circumstances.

If you sign up, you'll get access to three experienced securities law firms who will work their hardest for you. Labaton Sucharow LLP is one of the premier plaintiff's securities firms in the United States, with 65 lawyers and an in-house team of analysts, investigators, and securities experts.

This is a big, complex case - there has never been anything like it. We're partnering with two experienced securities arbitration firms, Dimond Kaplan & Rothstein, P.A., and Levin Law, P.A. These lawyers have recovered millions in FINRA arbitration for affected individuals. Our firms working together on this matter does not mean that you will incur additional fees beyond our standard contingency fee.

There's no guarantees you'll recover, but once you sign up with us, we'll work our hardest for you.

Signing up with is completely optional, but if you don’t sign our attorney-client agreement, we won’t be able to help you recover anything. It is free to sign up, and we don’t charge any fees unless we’re successful. You will never owe us anything out of pocket.

How do your fees work?
Our fees will be a percentage of the settlement or recovery we obtain for you. That amount will depend on the rules in the state you live in. We only receive a fee if you win, and you will never owe us any money.
What is FINRA?
FINRA is the Financial Industry Regulatory Authority. It is a self-regulatory body of the financial industry. Robinhood is a member of FINRA. FINRA is not a government organization, but is supervised by the United States Securities and Exchange Commission (“SEC”) which regulates the securities industry.
When are claims subject to FINRA arbitration?

Many brokers, like Robinhood, include arbitration clauses in their customer agreements where customers agree to bring their disputes to arbitration, not in court.  They also include “class action waiver” clauses that prevent customers from joining or being part of a class action.  A class action is a type of case where specific people act as representatives of the interests of unrepresented but similar people. 

Companies attempt to use arbitration along with a class waiver to deny individuals the right to bring their claims collectively, as part of a class action.  However, individuals can still bring claims on their own through arbitration.  The individual arbitration process can be faster and more effective in resolving claims than class action litigation.