Robinhood Outages Class Action

Plaintiffs and Class Representatives (“Plaintiffs”) and Robinhood Markets, Inc., Robinhood Financial LLC and Robinhood Securities, LLC. (“Robinhood”) have reached a proposed settlement in a class action lawsuit (the “Action”) entitled In re Robinhood Outage Litigation, No. 3:320-cv-01626-JD (the “Settlement”).

Under the proposed Settlement, Robinhood will pay $9,900,000 to settle claims related to certain alleged trading losses in connection with outages to Robinhood’s trading platform on March 2-3, 2020 and March 9, 2020 (the “Outages”).

If you wish to participate in this Settlement and receive benefits, you do NOT need to take any action. The Notice, which has been approved by the Court, describes what you may receive from the Settlement, how to object to the Settlement, and how to exclude yourself from the Settlement.

The Frequently Asked Questions page of this website has more information on your rights as a Class Member in this Action.

Please also read the Notice to fully understand your rights and options.

Your Legal Rights and Options in This Settlement

Do Nothing	If you wish to participate in this Settlement and receive a payment, you do not need to take any action. If you do not exclude yourself from the Settlement, you may receive a Robinhood account credit, check or digital payment. The estimated amount of your Settlement Payment and how it was determined is discussed in FAQ 8 - FAQ 10
Exclude Yourself	Receive no payment. This option allows you to be a part of any other lawsuit or arbitration against Robinhood regarding the Outages. Requests for Exclusions must be received no later than May 1, 2023.
Object to the Settlement, Plan of Allocation, Attorney's Fees, Service Awards	Write to the Court about why you do not like the Settlement, the proposed Plan of Allocation, Class Counsel’s request for attorneys’ fees and expenses and/or service awards for Plaintiffs. If you object, you will still be a member of the Settlement Class. Objections must be received no later than May 1, 2023.
Participate in the "Fairness Hearing"	Ask to speak in Court about the Settlement, the Plan of Allocation or Class Counsels’ request for attorneys’ fees and expenses and/or service awards for Plaintiffs on June 15, 2023.

IMPORTANT NOTE: The dates and deadlines may be changed without further notice to the Settlement Class, so please check the Settlement Website or the Court’s Public Access to Court Electronic Records (PACER) website at https://ecf.cand.us.courts.gov to confirm that the dates have not been changed.

These rights and options – and the deadlines to exercise them – are explained in the Notice.

The Court in charge of this case still must decide whether to approve the Settlement. Settlement payments will be made only if the Court approves the Settlement and after any appeals are resolved. Please be patient.