Robinhood settles $9M class action lawsuit for sending unsolicited text messages.
Robinhood has reached a $9M settlement in a class action lawsuit over unsolicited text messages sent through its referral program. The lawsuit, filed in Washington, accused Robinhood of violating the state's consumer protection laws. The settlement covers approximately 827,327 consumers who received text messages between August 2017 and February 2024, with each participating member expected to receive between $111 and $170.
July 18, 2024
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