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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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