© Reuters. FILE PHOTO: The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly
(Reuters) – A U.S. judge on Wednesday allowed customers of Robinhood Markets Inc (NASDAQ:) to sue the online trading platform over its alleged fraudulent concealment of the costs of sending their trade orders to other broker-dealers.
U.S. District Judge Yvonne Gonzalez Rogers (NYSE:) in Oakland, California rejected Robinhood’s motion to dismiss the case, saying customers had standing to sue over securities they bought and sold on its platform.
Robinhood had said the customers lacked standing because they did not allege any misstatements about the issuers of those securities.
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