The parents of a young man who committed suicide last year after mistakenly believing he’d lost $730,000 on the trading app Robinhood are speaking out about their son’s failed attempts to contact the company. The 20-year-old Illinois trader, Alex Kearns, was notified after 11 p.m. on June 11 that his Robinhood account had been restricted and that he was required to purchase more than $700,000 in shares as part of a complex options trade, according to a lawsuit filed against the company this week.
By Matt Egan, CNN Business After their son s death, Dan and Dorothy Kearns said they were horrified to learn that their panicked 20-year-old repeatedly tried and failed to get in touch.
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"The next day, after he committed suicide, believing that he owed $730K, there was an email sent to his account saying, ‘oh you're margin calls were canceled, everything is fine,’" the family's attorney said. "But he's already dead."
The parents of a young trader in Illinois are suing the brokerage app Robinhood after their 20-year-old son took his own life in June while mistakenly believing he lost $730,000 on a risky bet.