Kessler Topaz Meltzer & Check, LLP is currently litigating a class action lawsuit against Robinhood Markets, Inc. and other related entities, on behalf of Robinhood’s online trading customers who participated in Robinhood’s “Deposit Sweep” program. Under the Deposit Sweep program, Robinhood transfers uninvested cash in customers’ brokerage accounts into interest-bearing accounts at other institutions. The complaint alleges that, rather than fulfill its duties toward customers, Robinhood uses the Deposit Sweep program to enrich itself by pocketing nearly all of the interest generated.
Please contact us today if you have a Robinhood brokerage account and participate in Robinhood’s Deposit Sweep program. You may contact us at 484-270-1453, or you can fill out our online form below, or by email at info@ktmc.com.