Several Robinhood Meme Stock Customers to Arbitrate as Case Ends

Four Robinhood Markets Inc. customers who are the last remaining plaintiffs in complex litigation over a January 2021 “meme stock” frenzy must arbitrate their individual claims, a federal court said in shutting down the case.

Robinhood’s customer contract requires the arbitration of disputes, but that mandate was deferred under industry rules until class status was decided, Judge Cecilia M. Altonaga said Tuesday for the US District Court for the Southern District of Florida. Now that the court has denied class certification to the plaintiffs with federal securities law claims, and other sets of claims have been resolved, the customers must ...