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securitiessettled
In re January 2021 Short Squeeze Trading Litigation (Federal Securities Tranche)
U.S. District Court for the Southern District of Florida (MDL)
- Court
- U.S. District Court for the Southern District of Florida (MDL)
- Docket
- MDL No. 1:21-md-02989
- Parties
- Retail-investor plaintiffs v. Robinhood Markets, Inc. and affiliated Robinhood entities
- Claim type
- securities
- Filed
- 2021
- Outcome
- A May 2024 settlement resolved the individual federal securities claims of 12 plaintiffs in the Securities Tranche; the court retained jurisdiction to enforce the agreement, with a dismissal/enforcement order signed December 2, 2024, and ordered remaining plaintiffs to arbitrate.
Summary
Within the same Southern District of Florida MDL arising from the January 2021 trading restrictions, the court organized claims into tranches including a federal Securities Tranche advancing securities-law theories against Robinhood. In May 2024 the parties reached a settlement that resolved the individual claims of 12 plaintiffs in that tranche, with Chief Judge Cecilia M. Altonaga signing a dismissal and enforcement order on December 2, 2024. The court retained jurisdiction solely to enforce the agreement and ordered remaining plaintiffs to arbitrate their claims. This tranche is part of the broader meme-stock litigation tied to the r/WallStreetBets-driven episode.