Investors who are suing Robinhood over trading restrictions imposed in early 2021 have suffered a setback after their request for class certification was rejected by the United States District Court for the Southern District of Florida. The court ruled that the plaintiffs failed to convince the court that issues of individualized reliance would not be prevalent. Robinhood is a platform that offers commission-free trading for various financial instruments. The plaintiffs sought to certify a class asserting market manipulation claims against Robinhood. The lawsuit revolves around accusations of market manipulation by Robinhood, arising from its trading limitations during the "meme stock" short squeeze. Robinhood implemented restrictions on trading specific stocks to comply with increased deposit requirements from regulators. The plaintiffs argued that Robinhood manipulated the market by imposing these restrictions. Robinhood urged the court to reject class certification, claiming individualized issues would overshadow common concerns. Read more AI-generated news on: https://app.chaingpt.org/news