Robinhood Gets Final OK for $9.9 Million Settlement Over Outages

Robinhood Financial LLP will pay $9.9 million to settle a class action filed by investors who claim they suffered financial losses after the company’s trading platform was hit by outages in March 2020.

Judge James Donato of the US District Court for the Northern District of California gave final approval to the deal Tuesday.

The settlement class includes nearly 146,000 Robinhood account holders who suffered losses related to outages on March 2-3, 2020, and March 9, 2020. The settlement fund amounts to just under 50% of the $20.4 million in losses suffered by class members, according to a plaintiffs’ brief ...