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Why can't non-Robinhood holders of GME sue Robinhood, though? If you can prove that RH's actions drove the stock down, then aren't they the victims (and also no
by awillen 6y ago
Why can't non-Robinhood holders of GME sue Robinhood, though? If you can prove that RH's actions drove the stock down, then aren't they the victims (and also not bound by the user agreement)?
- gruez 6y ago>If you can prove that RH's actions drove the stock down That'd at best, prove harm, which is a necessary but not sufficient condition for a successful lawsuit. You'd also need to prove wrongdoing, which is hard because they seemed to have acted so they can fulfill their deposit requirements.
- awillen 6y agoAssuming that's true - the big issue is that Vlad said very clearly that they did not have a liquidity problem. You can't say that you're restricting deposits because the clearinghouses require you to put up more cash then immediately follow that by saying you have plenty of cash.
- nceqs3 6y agoEverything is securities fraud - Matt Levine
- alacombe 6y ago> Everything is securities fraud, as long as there is political will to prosecute FTFY