Stock trading app Robinhood was sued by the parents whose son committed suicide over a misunderstanding in the app. — AP Photo
Robinhood Markets Inc. was sued by the parents of a 20-year-old trader who killed himself last year after he incorrectly believed he had lost US$730,000 (RM2.96mil) on an options trade.
The parents of Alex Kearns filed a wrongful death lawsuit Monday in state court in Santa Clara County, California, claiming the no-fee brokerage preys on inexperienced and unsophisticated investors like their son. They seek unspecified damages.
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