Family of novice investor who killed himself sue Robinhood
The family of the UNL student who took his own life in June are suing Robinhood Financial
LOS ANGELES (AP) — The family of a novice stock trader who killed himself after mistakenly believing he lost more than $700,000 are suing Robinhood Financial.
The lawsuit claims that the popular stock-trading platform’s business practices “directly” led to their son’s death.
The complaint, filed Monday in state court in Santa Clara County, California, seeks unspecified damages on behalf of the parents and sister of Alex Kearns for wrongful death, negligent infliction of emotional distress and unfair business practices.
Kearns was 20 when he took his life last June after he misunderstood a potential loss from a stock-option trade. Robinhood says it has made improvements to its options trading system since Kearns’ death.