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Robinhood Seeks to Shed Class Action Over Voice Phishing Attack

June 28, 2022, 5:08 PM

A proposed class action seeking to hold Robinhood Markets Inc. liable for a data breach after a successful voice phishing attack on the trading platform firm should be dismissed because the plaintiffs failed to allege concrete injury, the company is arguing in California federal court.

Robinhood was sued in November 2021 after it disclosed a voice phishing, or vishing, attack that exposed the personal information of about 7 million customers. But the plaintiffs, consumers whose data was accessed through the vishing hit, failed to allege injury adequate to confer federal standing, attorneys representing the company wrote in a motion ...