Articles Posted in Webull Financial

Here is how you can file a claim to recover losses suffered from trading restrictions placed on GameStop, AMC, Blackberry, Nokia, and other stocks.

On February 12, 2021, in a letter addressed to Senator Elizabeth Warren, Robinhood Financial, LLC confirmed twenty-four (24) pending securities arbitrations.

Robinhood’s letter was written in response to an inquiry sent by Senator Warren on February 2, 2021, as to why Robinhood “abruptly changed the rules” for retail investors by restricting the purchase of certain securities.

Iorio Altamirano LLP is investigating claims of market manipulation and breach of contract after Robinhood Markets, Webull Financial LLC, T.D. Ameritrade, Charles Schwab, E*Trade Financial Corp., Interactive Brokers Group, and other online brokerage platforms halted the ability of its clients to purchase GameStop (NYSE: GME), AMC (NYSE: AMC), Novavax, Inc. (NASDAQ: NVAX), Express (NYSE: EXPR), Blackberry (NYSE: BB), Bed Bath & Beyond (NASDAQ: BBBY), Koss Corp. (NASDAQ: KOSS) and Nokia (NYSE: NOK) stock on January 28, 2021.

According to reports, after the popular online brokerage firms implemented the trading restrictions, GameStop ($GME) dropped 44%, and AMC ($AMC) lost 57%. The trading restrictions, which appear to have sent the share prices of targeted companies plunging, set off a firestorm of criticism, including Congress members.

New York Attorney General Letitia James released the following statement on January 28, 2021:  “We are aware of concerns raised regarding activity on the Robinhood app, including trading related to the GameStop stock. We are reviewing this matter.”

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