DataBreaches.Net

Menu
  • About
  • Breach Notification Laws
  • Privacy Policy
  • Transparency Report
Menu

Robinhood data breach class action settlement

Posted on October 1, 2022 by Dissent

Top Class Actions reports that the Robinhood investment platform has agreed to settle litigation stemming from an incident in 2020 that resulted in some customers having their accounts taken over.

According to a data breach class action lawsuit, Robinhood failed to respond adequately to the data breach. Because the company had no phone number listed for customer service calls, customers were allegedly forced to contact Robinhood by email and “were left anxiously waiting for days or weeks while more funds were depleted from their accounts.”

Robinhood customers allegedly lost millions as a result of the data breach. Despite promising to cover 100% of all losses caused by unauthorized activity, Robinhood allegedly denied some requests for reimbursement without any explanation.

As is generally the case, Robinhood does not admit any wrongdoing, but they agreed to a $20 million settlement.

Robinhood has also agreed to make security changes to prevent future data breaches.

The case is Siddharth Mehta, Kevin Qian, and Michael Furtado v. Robinhood Financial LLC and Robinhood Securities, LLC, Case No. 5:21-cv-01013-SVK, in the United States District Court for the Northern District of California.

The final approval hearing for the Robinhood data breach settlement is scheduled for May 16, 2023.

The official settlement website is: RobinhoodAccountTakeOverSettlement.com

Source: Top Class Actions

Category: Breach Incidents

Post navigation

← Electricity Company of Ghana systems hacked with ransomware – Sources
Thailand’s THE ICON GROUP hacked by DESORDEN →

Now more than ever

"Stand with Ukraine:" above raised hands. The illustration is in blue and yellow, the colors of Ukraine's flag.

Search

Browse by Categories

Recent Posts

  • Rewards for Justice offers $10M reward for info on RedLine developer or RedLine’s use by foreign governments
  • New evidence links long-running hacking group to Indian government
  • Zaporizhzhia Cyber ​​Police Exposes Hacker Who Caused Millions in Losses to Victims by Mining Cryptocurrency
  • Germany fines Vodafone $51 million for privacy, security breaches
  • Google: Hackers target Salesforce accounts in data extortion attacks
  • The US Grid Attack Looming on the Horizon
  • US govt login portal could be one cyberattack away from collapse, say auditors
  • Two Men Sentenced to Prison for Aggravated Identity Theft and Computer Hacking Crimes
  • 100,000 UK taxpayer accounts hit in £47m phishing attack on HMRC
  • CISA Alert: Updated Guidance on Play Ransomware

No, You Can’t Buy a Post or an Interview

This site does not accept sponsored posts or link-back arrangements. Inquiries about either are ignored.

And despite what some trolls may try to claim: DataBreaches has never accepted even one dime to interview or report on anyone. Nor will DataBreaches ever pay anyone for data or to interview them.

Want to Get Our RSS Feed?

Grab it here:

https://databreaches.net/feed/

RSS Recent Posts on PogoWasRight.org

  • How the FBI Sought a Warrant to Search Instagram of Columbia Student Protesters
  • Germany fines Vodafone $51 million for privacy, security breaches
  • Malaysia enacts data sharing rules for public sector
  • U.S. Enacts Take It Down Act
  • 23andMe Bankruptcy Judge Ponders Trump Bill’s Injunction Impact
  • Hell No: The ODNI Wants to Make it Easier for the Government to Buy Your Data Without Warrant
  • US State Dept. says silence or anonymity on social media is suspicious

Have a News Tip?

Email: Tips[at]DataBreaches.net

Signal: +1 516-776-7756

Contact Me

Email: info[at]databreaches.net

Mastodon: Infosec.Exchange/@PogoWasRight

Signal: +1 516-776-7756

DMCA Concern: dmca[at]databreaches.net
© 2009 – 2025 DataBreaches.net and DataBreaches LLC. All rights reserved.