Robinhood sued by family of stock trader who killed himself

By artappraiser on Tue, 02/09/2021 - 3:34am |

Alex Hearns ran in front of a train after being told of $730,000 loss he thought family would have to repay

The family of a 20-year-old stock trader who killed himself have sued the broker Robinhood for his death, citing its “misleading communications” that caused their son to panic over what he wrongly believed were huge market losses.

Robinhood notified Alex Kearns in June of what he thought was a $730,000 loss on a trade, and when he was unable to communicate with anyone at the company, the college student was thrown into a highly distressed mental state, the lawsuit stated. As a result, fearing his family would have to repay the huge loss, he ran in front of a train and killed himself, according to the lawsuit, filed in California state court [....]

URL:

https://www.theguardian.com/us-news/2021/feb/09/robinhood-sued-by-family-of-stock-trader-who-killed-himself

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the guy who posted on reddit about tesla buying bitcoin on Jan 2 has clarified that he didn’t have inside information, made that up for fun, and was high on LSD at the time https://t.co/L5Gb1uBbCK
— Neeraj K. Agrawal (@NeerajKA) February 9, 2021

by artappraiser on Tue, 02/09/2021 - 4:36pm

I bet Elon put him up to it. Except the acid - that was just for fun.

by PeraclesPlease on Tue, 02/09/2021 - 4:52pm

Kwon Joon, aged 12, dreams of becoming the next Warren Buffett after earning stellar returns of 43% from a hobby picked up just last year: buying stocks https://t.co/VnNz9dM86c pic.twitter.com/7ny5rll4L4
— Reuters (@Reuters) February 9, 2021

by artappraiser on Wed, 02/10/2021 - 1:03am

Of course Buffet leading a highly successful multi-investment institutional firm for decades is far from a kid making a few successful trades in his bedroom. Buffet has to actual analyze corporate structure, personalities, full financial profile and market potential, in a way that passes questions from his investors. I know there's free lunch out there - just it tends to be gone by the 50th diner max.

by PeraclesPlease on Wed, 02/10/2021 - 1:21am

there's revolutionary change across the big pond, too, back to capitalism's roots:

There really is no reason you have to become inured to living in the first developed democracy whose government is deliberately making its people poorer.

It really isn’t normal. https://t.co/XTNi9y259O
— Tom Peck (@tompeck) February 11, 2021

by artappraiser on Thu, 02/11/2021 - 3:28am

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