sued the company Monday, alleging that its “aggressive tactics” and targeting of young, inexperienced investors led to the user’s death by suicide last year.
“Though Alex was merely a senior in high school when he opened an account with Robinhood and had little or no income, Robinhood determined he was qualified enough to enter into the world of trading sophisticated financial options,” the document says. In June 2020, Kearns was notified by the company that his account reflected a negative balance of $730,000, the complaint says. An email from the company cited in the documents say he was required to deposit roughly $178,000 a week later.
If I can fight, kill and die in a war at 18, you can surely gamble at 20.
This is simply a campaign of demonising the company because it allowed the little man to profit from the big guys.
Greed, thrill, desperation, desire to make a quick back, or any of the major incentives that draws people to gamble along with a young adults willingness for risk is going to generate some of these outcomes but shouldn’t lead to someone taking his own life.
All these non reading half wit Americans in the thread. Didn’t even read that RobinhoodApp had an error about the balance that was slowly resolved. Kid waited for help to resolve error and robinhood did nothing which left him feeling hopeless leading him to death by suicide.
Robinhood should sue the abusive parents of the 20-year-old boy who committed suicide because they were not methodical in solving the key problem that led to his death. The boy was not afraid to take risks and overestimated the probability of success owing to bad parenting.
Robinhood should sue the abusive parents of their 20-year-old who committed suicide for not being methodical in solving the key problem that led to his death. The boy was not afraid to take risks and overestimated the probability of success. Poor judgment.
Sue Nebraska too for too rough people who doesn't feel he needs help, the college because no classes about not committing suicide. Sue emails company provider for not raising the red flag. You can sue everyone but not own stupidity
I’d like to see Robinhood suing the parents, alleging its “horrible parenting tactics” and inability to teach their child the risks of investing, which led to his demise.
His death is a tragedy, this family is despicable for attempting to profit from it.
Does this app provide investment opportunities or is it more akin to a gaming app at this point? Watching the gambling pushers around the Super Bowl telling us we can’t enjoy sports if we don’t, “have skin in the game,” it all seemed to roll together. Is this ‘investing?’
BrianBensimon Raise the age of consent to 26
They just dont want average Joe to trade stonks cause hedge funds will get rekt on short positions.Wake up people .Everybody needs to be a share holder in order to prosper. All we need is decentralized web.Web3.0
Fake news
Tragic that he killed himself but at what point will we demand responsibility from people? Smdh
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He was a 20 year old knowingly using an investment app! His parents knew about his use of it and didn’t care enough to find out the pros and cons then - this is sadly on them, not robinhood.
Can’t blame Robinhood for this kids inexperience. 🤦🏾♂️
It was a tragedy. Why didn’t he hop onto a private jet to the capital hill to ask for a bail out? He should probably also tried threatening to layoff his staff as a bargaining chip.
Give me a break. The stock market is the stick market. Would they have been suing if he won 730, 000 ? Sure enough he would've lived celebrating... life is about winning but more about losing ... ppl, stuff, jobs at times your mind & virginity
This is rediculous and they are just taking advantage, that's a lost case.
Last year. Before the Gamestop short sell.
How did he get that much credit?
Margin
Before people jump to Robinhood's defense: the email they sent was *wrong*, he made multiple attempts at emailing and calling Robinhood to reach a live person and nobody would answer him at all. And his suicide letter said it was because of this devastating email.
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I feel for this family. I can't even imagine the anguish this young man felt. I wish we could bring him back. Robinhood is absolutely a slippery slope.
They knew what they were doing