Robinhood Faces Wrongful-Death Lawsuit Over Young Trader’s Suicide
The family of a 20-year-old student who took his own life after believing he racked up big trading losses on Robinhood Markets Inc. filed a lawsuit against the company, saying its “reckless conduct directly and proximately caused the death of one of its victims.”
The father, mother and sister of Alex Kearns, a Robinhood user and an undergraduate at the University of Nebraska-Lincoln, said in a complaint filed in California state court on Monday that Robinhood contributed to his death through “misleading communications” about his investments and “virtually non-existent” customer service. They are seeking unspecified damages.
“We were devastated by Alex Kearns’ death,“ a Robinhood spokesman said in an email. ”We remain committed to making…