Robinhood is facing at least two lawsuits after shutting out investors earlier today.
« We continuously monitor the markets and make changes where necessary. In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AAL, $AMC, $BB, $BBBY, $CTRM, $EXPR, $GME, $KOSS, $NAKD, $NOK, $SNDL, $TR, and $TRVG, » said Robinhood this morning. « We also raised margin requirements for certain securities. » Now, the company is facing a couple of lawsuits for locking out its users. The first lawsuit [PDF] was filed this afternoon with the U.S. District Court in New York.
