Robinhood Outages Class Action

Update September 25, 2023:

Pursuant to the Order Regarding Final Approval granted by the U.S. District Court for the Northern District of California, awards to eligible Class Members in the Robinhood Outages Class Action will be issued on October 13, 2023. If you have an active Robinhood account, your award will be automatically deposited into your Robinhood account. Checks will be issued to Class Members who do not have active Robinhood accounts. Check awards will be non-negotiable if not cashed within 90 days. If you need to notify the Settlement Administrator of a change to your address, or if you have any questions regarding this distribution, please write to the Settlement Administrator at: Robinhood Outages Class Action, P.O. Box 3788, Portland, OR 97208-3788.

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	The deadline to exclude yourself was May 1, 2023.
Object to the Settlement, Plan of Allocation, Attorney's Fees, Service Awards	The deadline to object to the Settlements was May 1, 2023.
Participate in the "Fairness Hearing"	The Court held the Settlement Hearing 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.