Parents Sue Robinhood: App sued by family after 20-year-old died by suicide - mollexpeoreal
Robinhood is organism sued by the family of Alexander Kearns, a 20-year-old college student WHO died by felo-de-se after wrongly believing he was $730,000 in debt. Kearns' parents are now blaming Robinhood's want of client support and guidance for their boy's death, as he was non actually in debt at all — he had misread his equipoise on the app, which was temporarily displaying losses that did not exist.
Kearns' $730,000 losses were displayed aboard a limitation placed on his account. Afterwards the student contacted Robinhood in an undertake to lift the limitation and investigate the reason behind the losings, he was met with an machine-controlled response.
"Alex had written them request for help," Alex's Fatherhood Dan Kearns told CBS News. "And unfortunately, that's the single way that Robinhood communicates, is through email. And their reply was a tinned reply, basically, 'We'll scram back to you later.'"
Robinhood sued past Alex Kearns' family
The sidereal day after his death, Alex received an email from Robinhood confirming that the app had lifted his trade restrictions and that atomic number 2 had met his margin birdsong. This was succeeding three emails that Alex had allegedly sent to the company without a formal response.
"How was a 20-year-antique with no income able to get allotted almost a million dollars' worth of leverage?" Kearns, WHO died on June 12, 2020, reportedly wrote in a note before his self-annihilation. "The puts I bought/sold should give cancelled out, too, but I also have no clew what I was doing now in hindsight."
The Kearns family's attorneys Ethan Brown and Gum benzoin Blakeman said that Alex "would have been alive and well today" if Robinhood would hold responded promptly. Following Kearns' last, Robinhood claims it has greatly increased the sized of its customer patronise squad and hired more licensed brokers to offer client support, while also allowing users to request call-backs from the company rather than waiting for an electronic mail.
On top of the Kearns home's lawsuit, Robinhood faces a fall apart class-action lawsuit from a vendee involved in the GameStop (GME) controversy, after the app restricted purchases of the stock and contributed to its declining damage as a result. The move was criticized by various public and political figures including AOC and Elon Musk.
Source: https://www.gamerevolution.com/news/673858-parents-sue-robinhood-sued-by-family-suicide
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