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Wednesday, April 23, 2025

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Robinhood ‘inept,’ not lying, says court

SAN FRANCISCO — A federal judge in California dismissed, with leave to amend, a class action brought by Robinhood investors against the trading and investing app, which allegedly failed to inform the plaintiffs that the company’s revenue growth was undergoing a major reversal. The court found no evidence of fraud and wrote that “corporate ineptitude alone does not constitute a violation of the Securities Act.”

Read the ruling here.

Categories / Briefs, Business, Consumers, Financial, Securities

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