MAC Legal P.A. initiated the lawsuit on November 5, 2020, in the Circuit Court of Miami-Dade County, Florida. In discussions with the attorneys representing Pinchasov, they highlighted to FinLedger that a key aspect of the lawsuit stems from Robinhood’s own statements on its website, claiming that “deliberately engineered systems—not marble office buildings on Wall St—are the cornerstones of establishing trust.”
“Robinhood assumed a duty to these customers, which it failed to meet, and openly targets unsophisticated investors as part of its business model,” stated Michael Citron of MAC Legal, one of the attorneys involved. “But where is the liability? That negligence is at the heart of this suit.”
