Citadel Securities and Robinhood Markets Inc. won dismissal of a proposed class-action lawsuit brought by retail investors who accused the firms of colluding during January’s meme-stock frenzy.
U.S. District Judge Cecilia Altonaga in Miami said that the plaintiffs failed to show there was any agreement between Citadel Securities and Robinhood to act in concert. In a Wednesday ruling, she dismissed the case without prejudice, giving the investor group until Dec. 20 to possibly file an amended complaint.
The lawsuit alleged that Citadel Securities amassed a substantial short position in GameStop Corp. and other stocks that exploded in value, and that ...
