A class action lawsuit has been put in place by law firms representing users of the highly productive users of the Robinhood Market Inc. Users are now taking a full-on legal approach to the restriction of stock market shares associated with Wall Street firms and big business stockbroker corporations. Independent investors feel their rights are being violated with the changing of agreements that Robinhood had initial put into effect with the creating of the vial application. 

robinhood class action lawsuit

The Wall Street journal has recently been reporting volatile trading transactions in the past weeks and has made a huge upset to the S&P 500, shifting rankings so fast that recovering has made it impossible for career investors to regain their assets. The people of the trading group have stuck together without mercy to big businesses, demanding equal opportunity in these large ticket investments. The shift has made such an impact that Wall Street investors have gone as far as personally attacking groups on media. Hedge Fund billionaire Leon Cooperman states that “This fair share is a B*llshit concept” believing that this is an attack on wealthy people. Cooperman believes “People are sitting at home getting checks from the government” and thinks that it’s inappropriate and “We all have to work together and pull together”. 

Billionaires Upset

The wealth of relaxed billionaire investors fabricated this ideology that they are practically entitled to these funds and they shouldn’t have to stay on their feet to keep their investments. Big business corporate investors borrow millions of dollars in the expectation of creating multimillions more in revenue for themselves. This concept creates a terrible situation for the taxpaying workers of America. When large industries like this lose funds they really don’t lose out on wealth. The workers of America end up using their money in order to bail out industries that are “Too Big to Fail”. The American government has spent countless dollars from taxpayers in order to help the same companies that made terrible decisions for themselves while simultaneously blaming the people for their acts in the role. 

The American people have wasted too much of our tax funds on bailouts for companies that just turn around and utilize more funds in order to start another industry, operating under the same conditions as the business that they just had fail. The United States was not built as a billionaire casino, it’s time we stop acting like it is and hold these businesses accountable for their poor investments. Many of these companies understand the terms and conditions that it takes to run a risky business such as investing in share yet still choose to do so, as Conservative Americans this is a right people have, but this right does not come with an insurance scapegoat that is paid for with taxpayer funds. Only time will tell how the Robinhood class action lawsuit will play out.

Written by: Charlie Alvitre