Robinhood sued for wrongful death after young trader s suicide
The lawsuit comes as Robinhood stirs controversy for its role in the GameStop saga. Listen - 02:26
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The family of a 20-year-old man filed a lawsuit against the investment Robinhood on Monday, saying its popular investment app was responsible for the student s suicide.
Alex Kearns, who was studying at the University of Nebraska-Lincoln, killed himself last June after he believed he had racked up roughly $730,000 in trading losses on the app. The distress caused by the apparent loss and automated responses from Robinhood prompted Kearns to take his life, the lawsuit says. The family is suing for wrongful death, negligent infliction of emotional distress and unfair business practices.
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