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For those who didn't read the article: > The family of a 20-year-old stock trader who killed himself have sued the broker Robinhood for his death, citing its “
by wrinkl3 6y ago
For those who didn't read the article:
> The family of a 20-year-old stock trader who killed himself have sued the broker Robinhood for his death, citing its “misleading communications” that caused their son to panic over what he wrongly believed were huge market losses.
> Robinhood notified Alex Kearns in June of what he thought was a $730,000 loss on a trade, and when he was unable to communicate with anyone at the company, the college student was thrown into a highly distressed mental state, the lawsuit stated.
> As a result, fearing his family would have to repay the huge loss, he killed himself, according to the lawsuit, filed in California state court.
The lawsuit isn't about Robinhood encouraging gambling but rather about the UI/UX being catastrophically misleading.
- fatnoah 6y ago>The lawsuit isn't about Robinhood encouraging gambling but rather about the UI/UX being catastrophically misleading. The Guardian article cited misses some key details that are contained here: https://www.cbsnews.com/news/alex-kearns-robinhood-trader-suicide-wrongful-death-suit/ https://www.cbsnews.com/news/alex-kearns-robinhood-trader-su... >Later that night, at 3:26 a.m., the company sent an automated email demanding Alex take "immediate action," requesting a payment of more than $170,000 in just a few days. He was then unable to actually get through to customer service due to lack of a phone number and no immediate reply via email. The day after the suicide, this email was sent to him: >"Great news!" The email read, "We're reaching out to confirm that you've met your margin call and we've lifted your trade restrictions. If you have any questions about your margin call, please feel free to reach out. We're happy to help!"
- titzer 6y agoAlgorithms are such callous bastards.