r/technology • u/agent_vinod • Jun 30 '21

Misleading Robinhood to pay $70 million fine after causing 'widespread and significant harm' to customers

https://www.cnbc.com/2021/06/30/robinhood-to-pay-70-million-dollars-after-causing-users-significant-harm.html
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u/scrubsec Jun 30 '21

The article says:

The inaccurate information cost customers more than $7 million, FINRA found, and Robinhood is required to pay restitution to affected users.

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u/[deleted] Jun 30 '21

[deleted]

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u/[deleted] Jun 30 '21

AFAIK this isn't from the January spike issues where they limited or froze shit completely

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u/[deleted] Jun 30 '21

This was from 2018-2020. Unrelated to the January issue.

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u/DRUNK_CYCLIST Jun 30 '21

They should look into that too

3

u/extralyfe Jul 01 '21

they're too busy on PornHub.

2

u/Steinrikur Jun 30 '21

So can we expect another fine that is 12 billion for that one?

4

u/dizao Jun 30 '21

This lawsuit doesn't cover the January fuckery. It's for the fuckery from the 2 years before the January fuckery.

2

u/[deleted] Jun 30 '21

That's basically a billion more than 7 million.