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6 Min Read
(Reuters) - Robinhood Markets Inc’s user agreement is likely to protect the brokerage app from a barrage of lawsuits filed by customers after it blocked a frenzied trading rally in companies such as GameStop Corp that was fueled on social media forums.
FILE PHOTO: Trading information for GameStop is displayed on the Robinhood App as another screen displays the Robinhood logo in this photo illustration January 29, 2021. REUTERS/Brendan McDermid/Illustration/File Photo
The owners of internet platforms where much of the discussion took place are likewise shielded from liability for users’ activity under a 25-year-old law known as Section 230.
6 Min Read
(Reuters) - Robinhood Markets Inc’s user agreement is likely to protect the brokerage app from a barrage of lawsuits filed by customers after it blocked a frenzied trading rally in companies such as GameStop Corp that was fueled on social media forums.
FILE PHOTO: Trading information for GameStop is displayed on the Robinhood App as another screen displays the Robinhood logo in this photo illustration January 29, 2021. REUTERS/Brendan McDermid/Illustration/File Photo
The owners of internet platforms where much of the discussion took place are likewise shielded from liability for users’ activity under a 25-year-old law known as Section 230.
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Wednesdayâs retail trading crush sent online brokerages reeling, with several sites reporting disruptions and glitches and one even limiting trades of hot stocks.
Charles Schwab Corp. was among those hit by service disruptions as traders were transfixed by wild swings in shares of heavily shorted stocks such as GameStop Corp. and AMC Entertainment Holdings Inc. Robinhood Markets, Morgan Stanleyâs E Trade and Fidelity were also affected, according to Downdetector.com, which tracks user complaints.