U-S-NEWS.COM "REAL NEWS for REAL PEOPLE" HUB
KING's of FAKE NEWS = CNN - CBS News - MSNBC News - ABC News - The New York Times - The Washington Post - Facebook - Twitter and more
They ALL SUCKS and simply DO NOT tell you the truth PERIOD
WARNING! If you usually get your news from one of these so-called "News Services" Welcome to you, but be prepared for big surprises!
eg. the earth IS round, but not like a pancake, more like a football - 2+2 is not 5 or 22 but 4 - There is not 57 different genders, only 2
Help your friends, family and the truth by sharing this page and articles. Amen and a-women
KNOWLEDGE is POWER / REAL NEWS is KEY
New York: Wednesday, March 03, 2021
© 2021 U-S-NEWS.COM
Online Readers: 60
Robinhood sued by family of Alex Kearns, 20-year-old trader who killed himself
Read it to me
Voiced by Amazon Polly

STOCK MARKET NEWS:
Robinhood sued by family of Alex Kearns, 20-year-old trader who killed himself

The Robinhood logo design on a smart device organized in the Brooklyn district of New York City, U.S., on Saturday, Dec. 19, 2020.

Gabby Jones | Bloomberg | Getty Images

Robinhood was sued Monday for wrongful death by the family of Alex Kearns, a 20-year-old consumer who took his life last summertime after thinking he had actually acquired huge losses on the millennial-favored stock trading app.

“This case centers on Robinhood’s aggressive tactics and strategy to lure inexperienced and unsophisticated investors, including Alex, to take big risks with the lure of tantalizing profits,” stated the grievance submitted by his moms and dads Dan and Dorothy Kearns, and his sibling Sydney Kearns in a California state court in Santa Clara. The family is based in Naperville, Illinois.

Robinhood’s “reckless conduct directly and proximately caused the death of one of its victims,” the grievance stated. The suit is likewise implicating the brokerage of irresponsible infliction of psychological distress and unreasonable company practices.

Alex Kearns, a then-sophomore at the University of Nebraska at Lincoln, devoted suicide in June after believing he had an unfavorable $730,165 money balance on Robinhood.

The grievance declares that Kearns misinterpreted the Robinhood monetary declaration and was safeguarding his family from the monetary commitment.

The fit states that Kearns made 3 efforts to call Robinhood customer care concerning the enormous undersea balance.

Nevertheless, his messages were consulted with automated replies, according to the grievance.

In a note to his family that CNBC has actually seen, Kearns implicated Robinhood of permitting him to overdo excessive danger. He declared the puts he purchased and the shares offered “should have cancelled out,” according to the note.

Puts are alternatives that offer the owner the right to offer a security at a defined cost.

The trader stated he had “no clue” what he was doing, according to the note.

“How was a 20 year old with no income able to get assigned almost a million dollars worth of leverage?” checked out the note Kearns composed to his family. “There was no intention to be assigned this much and take this much risk, and I only thought that I was risking the money that I actually owned.”

A Robinhood representative informed CNBC, “We were devastated by Alex Kearns’ death. Since June, we’ve made improvements to our options offering.”

Robinhood has actually ended up being a popular entry indicate the stock market for novice financiers. It has actually grown from 1 million users in 2016 to more than 13 million last spring. In the middle of the Reddit investor-fueled GameStop drama, traffic analysis website SimilarWeb approximates 3 million more users downloaded Robinhood in January alone.

Robinhood, which is run by CEO Vlad Tenev, has actually come under examination for its “gamification” of investing and declared predatory marketing practices.

Robinhood is likewise dealing with class-action suits from customers after the app’s choice to limit trading in particular securities throughout the current GameStop debate. The brokerage company, which has strategies to go public in 2021, has actually consistently stated that the bulk of its users are long-lasting financiers.

Robinhood, one of the greatest recipients of the retail trading boom in 2020, has actually likewise come under examination for the gain access to it provides its customers without appropriate investing education. In 2015, Massachusetts regulators submitted a problem versus Robinhood, implicating the trading app of predatory marketing on unskilled financiers.

The Securities and Exchange Commission charged the brokerage in December with deceptive clients about how the stock-trading app generates income and stopping working to provide the assured finest execution of trades.

The Kearns’ family grievance states, “Not only did Robinhood permit Alex to open the account, but when Alex was a freshman in college later that year, it permitted him to trade options.”

“Worse, Robinhood provided almost no investment guidance, and its customer ‘service’ was virtually non-existent, consisting of automated e-mail replies devoid of any human contact or interaction,” the family declared in the fit.

Here’s Robinhood’s complete declaration concerning the suit.

“We were devastated by Alex Kearns’ death. Since June, we’ve made improvements to our options offering. These include adding the ability to exercise contracts in the app, guidance to help customers through early assignment, updates to how we display buying power, more educational materials on options, and new financial criteria and revised experience requirements for new customers seeking to trade Level 3 options. In early December, we also added live voice support for customers with an open options position or recent expiration, and plan to expand to other use cases. We also changed our protocol to escalate customers who email us for help with exercise and early assignment. We remain committed to making Robinhood a place to learn and invest responsibly.”

— with reporting from CNBC’s Dan Mangan, Kate Rooney and Yasmin Khorram.

Sign Up For CNBC PRO for unique insights and analysis, and live company day shows from worldwide.

Read Original – Click Here

Hmm. yes i understand the
question, you know it's been at least
15 years since I've been following the news, no 10 my folks do that, hmm. what was the question again !?
Excuse me, do you remember
where you read about this ?
Are you kidding !?
of course I can, it was here
on U-S-NEWS.COM
(Visited 1 times, 1 visits today)
Tags:
0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

REAL NEWS for REAL PEOPLE
Daily or Weekly

Find Donald Trump and all the others
how to navigate the left-wing Internet

Save videos from Youtube and other platforms
before they are deleted, with only 3 mouse clicks

JOIN - THE NEWS BOARD

We have now seen how the left, with great help from our mainstream fake-news media and Google, Youtube, Twitter, Amazon, Stripe and more is trying to suppress conservative opinions. Some might think Hej that sounds great then i don't have to think for myself... (it must be great to have it like that...) BUT WE DON'T!

Share your opinion with other like-minded

STOP the STEAL and JOIN us TODAY

the NEWS BOARD
WE WANT YOU TO
JOIN us TODAY
( share your opinion without getting your account deleted )

Information about our new
Commander in Thief - Joe Biden and Vice President - Kamala Harris

TODAY'S TOP STORIES

  • NEWS HEADLINES: Johnson & Johnson COVID vaccine morally wrong? Catholic bishops caution just thatNEWS HEADLINES: Johnson & Johnson COVID vaccine morally wrong? Catholic bishops caution just that 03/03/2021 NEWS HEADLINES:Johnson & Johnson COVID vaccine morally wrong? Catholic bishops caution just that The U.S. Conference of Catholic Bishops is urging people to seek alternatives to coronavirus vaccine produced by Janssen, a company of Johnson & Johnson, arguing that the product raises additional moral concerns through its connection to aborted fetal cells.In a… (2)
  • The US registers half a million deaths from Covid-19The US registers half a million deaths from Covid-19 02/27/2021 The US registers half a million deaths from Covid-19 The situation due to the coronavirus is drastic in almost all the countries of the world, including the United States, which is the country most affected by the pandemic worldwide. Therefore, after receiving an expert report, Biden gave the regrettable announcement… (1)
  • SOCCER NEWS: Ronaldo scores but Juventus held 1-1 at Hellas VeronaSOCCER NEWS: Ronaldo scores but Juventus held 1-1 at Hellas Verona 02/28/2021 SOCCER NEWS: Ronaldo scores but Juventus held 1-1 at Hellas Verona MILAN (AP) - Injury-hit Juventus was held at Hellas Verona to 1-1 as its hopes of a record-extending 10th succeeding Serie A title took a blow on Saturday. Cristiano Ronaldo broke the deadlock early in the 2nd half but… (1)
  • POLITICS: Ric Grenell Takes on CA Gov. Gavin Newsom, Calls for Term LimitsPOLITICS: Ric Grenell Takes on CA Gov. Gavin Newsom, Calls for Term Limits 02/28/2021 POLITICS: Ric Grenell Takes on CA Gov. Gavin Newsom, Calls for Term Limits Previous Performing Director of National Intelligence Richard Grenell took on embattled California Gov. Gavin Newsom, who deals with a prospective recall, and the D.C. political facility throughout a speech at the Conservative Political Action Conference (CPAC) on… (1)
  • POLITICS: Sacha Baron Cohen Mocks Donald Trump, Rudy Giuliani at Golden GlobesPOLITICS: Sacha Baron Cohen Mocks Donald Trump, Rudy Giuliani at Golden Globes 03/01/2021 POLITICS: Sacha Baron Cohen Mocks Donald Trump, Rudy Giuliani at Golden Globes Sacha Baron Cohen utilized his 2 Golden World wins on Sunday as a chance to additional burnish his left-wing activist qualifications, taking pot shots at previous President Donald Trump and Rudy Giuliani. The British star and anti-free speech… (1)
  • POLITICS: This was a MAJOR FRAUD | Rudy Giuliani – VideoPOLITICS: This was a MAJOR FRAUD | Rudy Giuliani - Video 03/02/2021 POLITICS: This was a MAJOR FRAUD | Rudy Giuliani President Trump legal employee Rudy Giuliani talk about the group's next actions relating to discovering their viewed abnormalities, the proof he will provide, and more. - through Greg Kelly Reports, weekdays at 7PM ET on Newsmax TELEVISION See Newsmax TELEVISION on… (1)
  • POLITICS: Major developments in key states | Sidney Powell – VideoPOLITICS: Major developments in key states | Sidney Powell - Video 03/02/2021 POLITICS:Major developments in key states | Sidney Powell Lawyer Sidney Powell provides insight into election irregularities, potential illegal actions and more - via 'Greg Kelly Reports.' Watch Newsmax TV on Directv 349, Xfinity 1115, Dish 216, Spectrum (see channels), Cox, Optimum, U-Verse 1120, FiOS 615, Suddenlink, CenturyLink 1209, Mediacom 277,… (1)
  • WORLD NEWS: Police in Burma fire tear gas, rubber bullets at protestersWORLD NEWS: Police in Burma fire tear gas, rubber bullets at protesters 03/03/2021 WORLD NEWS:Police in Burma fire tear gas, rubber bullets at protesters Police in Burma repeatedly used tear gas and rubber bullets Tuesday against crowds protesting last month's coup, but the demonstrators regrouped after each volley and tried to defend themselves with barricades as standoffs between protesters and security forces intensified.Burmese… (1)




LATEST TOP STORIES




©2021 U.S.NEWS.COM - NEWS NETWORK

the NEWS BOARD
WE WANT YOU TO
JOIN us TODAY
JOIN THE NEWS BOARD - We have now seen how the left, with great help from our mainstream fake-news media and Google, Youtube, Twitter, Amazon, Stripe and more, is trying to suppress conservative opinions. Some might think Hej that sounds great, then i don't have to think for myself...(it must be great to have it like that...) BUT WE DON'T! On this board you can share your opinion, comment on, or post news articles, share your opinion in the groups, write to other members (without having to fear something going to happen to your account) We do not use "easy" login with help from Facebook or Google, only Manual account creation (email and password) you can call yourself Donald Duck if you think it's appropriate! Welcome to the News Board
If you only get mainstream news you are kept in the dark, try one of these
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LnlvdXR1YmUuY29tL2VtYmVkL3ZpZGVvc2VyaWVzP2xpc3Q9VVV4NmgtZFd6SjVOcEFsamExWXNBcGRnIiB3aWR0aD0iMzAwIiBoZWlnaHQ9IjE2OSIgZnJhbWVib3JkZXI9IjAiIGFsbG93ZnVsbHNjcmVlbj0iYWxsb3dmdWxsc2NyZWVuIj48L2lmcmFtZT4=
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LnlvdXR1YmUuY29tL2VtYmVkL3ZpZGVvc2VyaWVzP2xpc3Q9VVVPMGFrdWZ1OU1Penl6M252R0lYQUF3IiB3aWR0aD0iMzAwIiBoZWlnaHQ9IjE2OSIgZnJhbWVib3JkZXI9IjAiIGFsbG93ZnVsbHNjcmVlbj0iYWxsb3dmdWxsc2NyZWVuIj48L2lmcmFtZT4=
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LnlvdXR1YmUuY29tL2VtYmVkL3ZpZGVvc2VyaWVzP2xpc3Q9VVV5NzJtNHNnZkp1RjlRTGVlY1lKRlZRIiB3aWR0aD0iMzAwIiBoZWlnaHQ9IjE2OSIgZnJhbWVib3JkZXI9IjAiIGFsbG93ZnVsbHNjcmVlbj0iYWxsb3dmdWxsc2NyZWVuIj48L2lmcmFtZT4=
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LnlvdXR1YmUuY29tL2VtYmVkL3ZpZGVvc2VyaWVzP2xpc3Q9VVVOYklESk5OZ2FSclhPRDdWbGxJTVJRIiB3aWR0aD0iMzAwIiBoZWlnaHQ9IjE2OSIgZnJhbWVib3JkZXI9IjAiIGFsbG93ZnVsbHNjcmVlbj0iYWxsb3dmdWxsc2NyZWVuIj48L2lmcmFtZT4=
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LnlvdXR1YmUuY29tL2VtYmVkL3ZpZGVvc2VyaWVzP2xpc3Q9VVU4SW9oNGF0TkRPNWEwVnkycUZtYXVRIiB3aWR0aD0iMzAwIiBoZWlnaHQ9IjE2OSIgZnJhbWVib3JkZXI9IjAiIGFsbG93ZnVsbHNjcmVlbj0iYWxsb3dmdWxsc2NyZWVuIj48L2lmcmFtZT4=
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LnlvdXR1YmUuY29tL2VtYmVkL3ZpZGVvc2VyaWVzP2xpc3Q9VVVlTGM0aGVYcUc5ZHRMN2ppUEhNQmZRIiB3aWR0aD0iMzAwIiBoZWlnaHQ9IjE2OSIgZnJhbWVib3JkZXI9IjAiIGFsbG93ZnVsbHNjcmVlbj0iYWxsb3dmdWxsc2NyZWVuIj48L2lmcmFtZT4=
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LnlvdXR1YmUuY29tL2VtYmVkL3ZpZGVvc2VyaWVzP2xpc3Q9VVVXTjNBTEhvWWhYWlpObHRiX191SURnIiB3aWR0aD0iMzAwIiBoZWlnaHQ9IjE2OSIgZnJhbWVib3JkZXI9IjAiIGFsbG93ZnVsbHNjcmVlbj0iYWxsb3dmdWxsc2NyZWVuIj48L2lmcmFtZT4=
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LnlvdXR1YmUuY29tL2VtYmVkL3ZpZGVvc2VyaWVzP2xpc3Q9VVUtLVc2VEZCNlpTT0dCT1RVTEFISldRIiB3aWR0aD0iMzAwIiBoZWlnaHQ9IjE2OSIgZnJhbWVib3JkZXI9IjAiIGFsbG93ZnVsbHNjcmVlbj0iYWxsb3dmdWxsc2NyZWVuIj48L2lmcmFtZT4=
I'm down here in the swamp. Help me!
You now reached the bottom, exactly like
JOE BIDEN
Commander in Thief
PGlmcmFtZSB3aWR0aD0iNTAwIiBoZWlnaHQ9IjI4MSIgc3JjPSJodHRwczovL3d3dy55b3V0dWJlLmNvbS9lbWJlZC9RUDBSUmhDTzBUMCIgZnJhbWVib3JkZXI9IjAiIGFsbG93PSJhY2NlbGVyb21ldGVyOyBhdXRvcGxheTsgY2xpcGJvYXJkLXdyaXRlOyBlbmNyeXB0ZWQtbWVkaWE7IGd5cm9zY29wZTsgcGljdHVyZS1pbi1waWN0dXJlIiBhbGxvd2Z1bGxzY3JlZW4+PC9pZnJhbWU+

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

STOCK MARKET: Robinhood sued by family of Alex Kearns, 20-year-old trader who killed himself

Share via

Log in with your credentials

Forgot your details?

Thanks!

Subscribe - Real News for Real People - Daily or Weekly Click Here


Send this to a friend