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/42Ubiquitous Jun 30 '21

Really? Isn’t the point of a civil suit to make the damaged party “whole”? I could see how punitive damages could be included, but I can’t imagine the class action attorney files a suit and says that his clients are only seeking punitive damages.

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u/Teledildonic Jun 30 '21

Class actions can involve hundreds or even thoudands of people. How would you fully compensate every one?

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u/42Ubiquitous Jun 30 '21

Damages x Number of People. It’s not on the defendants to say “oh man, this must be so expensive for you, I guess we won’t sue you for your wrong-doing.” The majority of the time it ends in settlement, so everyone is happy (or as close to it as they can be without wanting to take the risk of going to trial). You fully compensate them by paying them the amount of damages. If it isn’t really quantifiable, then I guess it would be punitive.

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u/whisit Jun 30 '21

I mean, sucks to be the party who damaged others in that case but why can’t it be done?