Generally, brokerage liability can occur if an order is mishandled. Trading near the open or close or intermittent system outages are not a mishandling issue. It's what the industry calls an ACORN (advise customer our responsibility none) condition. This would relate to Robinhood issue unless advised of it and generally on order near the open or close.
The order was misrouted -
The order was internalized while a better market existed - (Subject to debate in fast markets)
Being down for an extended period(Subject to debate) and not advising -
Mishandling a suitability issue - BTW this will normally get you a check so fast it will make your head spin.
An option order bounced continuously via linkage -
Conditional order not coded properly when proper coding exists -
Order lost -
Order resequenced for no apparent reason -
Phone orders not promptly relayed -
I worked at four brokerage houses - one twice - and something I learned about customer complaints.
1. There is frequently an omission of all the facts
2. I can't think of a reason why a brokerage firm would be out to screw you and extreme volatility is a bitch.
Sometimes volatile days are simply too much for some link in the system.
