On Tuesday, Robinhood and five institutional trading firms were hit with a class-action in Florida South District over the stock trading app’s payment for order flow and order routine practices. The suit was filed by Mac Legal PA, Cornish Hernandez Gonzalez, and Levy & Partners. It contends that Robinhood misleads customers regarding the payment it receives in exchange for sending orders to third-party trading firms for execution.
Source: Law.com
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