Robinhood Faces Another Class Action From Consumers Over Hack (1)

Robinhood Markets Inc. faces a potential class action lawsuit in a California federal court over allegedly failing to secure and safeguard millions of consumers’ personal data from hackers.

The brokerage app is accused of violating several state consumer protection laws by breaching its promise to consumers to keep their data private and protected, according to the complaint filed Wednesday in the U.S. District Court for the Northern District of California.

The California class action comes after consumers filed a similar suit in the Eastern District of New York. Both suits blame Robinhood for lacking proper cybersecurity controls to prevent and ...