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Securities Arbitration Law Firm Iorio Altamirano LLP is Pursuing Arbitration Claims Against Robinhood for Allowing Ineligible Customers Trade Options; Individuals with Losses Encouraged to Contact the Law Firm

·2 min read

NEW YORK, July 27, 2021--(BUSINESS WIRE)--Iorio Altamirano LLP, a leading securities arbitration law firm, is investigating claims on behalf of Robinhood Financial LLC ("Robinhood") customers who were approved to trade options by Robinhood but did not satisfy eligibility requirements.

Robinhood traders who lost money through options trading with Robinhood between December 2017 and May 2021 are encouraged to contact Iorio Altamirano LLP for a free and confidential consultation. Iorio Altamirano LLP can review and analyze potential claims and advise individuals of their legal rights without obligation or cost. To set up an evaluation, contact securities arbitration attorneys August Iorio at august@ia-law.com or Jorge Altamirano at jorge@ia-law.com. Alternatively, you may reach the firm by phone toll-free at (855) 430-4010.

According to a recent regulatory agreement with FINRA, between December 2017 and May 2021, Robinhood failed to exercise due diligence before approving customers to trade options accounts. Robinhood is also said to have inflicted "widespread and significant harm" to millions of customers by providing them with false information about the risks associated with certain options transactions. As part of the agreement, Robinhood agreed to pay a record-setting penalty of approximately $70 million for systemic supervisory failures.

Iorio Altamirano LLP also currently represents Robinhood traders in filing securities arbitration claims against the firm for placing trading restrictions on certain securities in January 2021.

On January 28, 2021, Robinhood restricted its customers from purchasing shares of publicly traded companies, including GameStop, AMC, Nokia, BlackBerry, Bed Bath & Beyond, Naked Brands, Koss, and Express. After Robinhood announced the trading restrictions, the share prices of many of these companies plummeted.

Former and current Robinhood customers who held the targeted securities on January 27, 2021, are encouraged to complete the following form for a free and confidential consultation. Customers may be entitled to compensation without paying any out-of-pocket fees or costs through a contingency fee arrangement with securities arbitration law firm Iorio Altamirano LLP.

About Iorio Altamirano LLP:

Iorio Altamirano LLP is a national securities litigation law firm based in New York, NY. The law firm pursues FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210727005037/en/

Contacts

August Iorio
Iorio Altamirano LLP
(855) 430-4010
august@ia-law.com
www.iorioaltamirano.com

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