‘Short Squeeze’ Robinhood Cases Involving GameStop Stock Sent to MDL Docket in Florida

WASHINGTON, D.C. –– The U.S. Judicial Panel on Multidistrict Litigation has created a multidistrict litigation docket for the more than 50 cases accusing Robinhood Financial and other investment brokers of improperly restricting the trading of certain stocks, including GameStop Corp.

In an April 1 order, the JPML sent the cases to a coordinated docket before Hon. Cecilia M. Altonaga of the U.S. District Court for the Southern District of Florida, noting that “some of the events central to this litigation, in particular, Robinhood Securities’ decision to restrict trading on the meme stocks, took place in Florida.”

In its order, the …