Robinhood Data Breach Suit Trimmed, But Still In Play – Law360

robinhood-data-breach-suit-trimmed,-but-still-in-play-–-law360

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Law360 (May 7, 2021, 4: 59 PM EDT) -- Robinhood customers who say their accounts were hacked can pursue some of their claims against the popular stock-trading platform, including allegations that Robinhood maintained lax security measures, a California magistrate judge found.

U.S. Magistrate Judge Susan Van Keulen trimmed about half the claims facing Robinhood Financial LLC and Robinhood Securities LLC, but allowed claims such as negligence and violations of California's Consumer Privacy Act to proceed. The customers, led by Siddharth Mehta, are allowed to try again on the claims that were dismissed, court filings show.

Mehta and a proposed class of Robinhood users argued that Robinhood failed to maintain industry-standard...

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