in Newswire January 4, 2021

Inexperienced Robinhood Traders Charged Backdoor Fees in Undisclosed ‘Payment for Order Flow’ Scheme, Class Action Says

by Corrado Rizzi

Last Updated on January 4, 2021

Lemon v. Robinhood Financial LLC et al.

Filed: December 23, 2020 § 4:20-cv-09328

A class action alleges Robinhood has misled novice users into executing inferior trades by failing to disclose that its revenue relies heavily on "payment for order flow" from market makers in exchange for executing trades.

Last Updated on January 4, 2021 — 5:01 PM

Corrado Rizzi

corrado@classaction.org

Corrado Rizzi is the Managing Editor and a writer for ClassAction.org.

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