Family of Robinhood user who died by suicide sues company

ElCubano said:
Suicide for loss of money via stocks is not isolated to those with little to no training. You seem to have some sort of vendetta for this RH/Gills/GME story.... Did you lose some money?
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I have a problem with frauds, like Gills and GME followers :)

and that includes you too :)
 
BMK said:
At that time, RH did not have phone customer service



This type of case in the USA is not decided by a judge.

A judge will rule on various motions early in the process. A judge can dismiss the case if it does not meet a certain basic threshold of evidence. But if the case gets past that point, it will either be settled privately without going to trial, or it will go to trial and be decided by a jury.

BMK
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ok hopefully it won't get dismissed by the judge right up front then.
 
newwurldmn said:
presumably he had to take an options test.
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It's been several years since I have opened an options trading account, but I don't remember ever having to take a test. I only had to answer a few questions about how many years of investing experience I had, and a few questions about risk levels. There was no testing of options terminology or concepts. But I was still able to get a margin account with full options trading privileges, including naked short calls.

BMK
 
newwurldmn said:
presumably he had to take an options test.

he should have known he was covered.

this lawsuit is complete bs.
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No way a 20yo should have been allowed to hold an account with option privileges. I couldn't get anyone but RF Lafferty to allow me to trade vol at 21. I traded my dad's account before turning 21.
 
destriero said:
No way a 20yo should have been allowed to hold an account with option privileges. I couldn't get anyone but RF Lafferty to allow me to trade vol at 21. I traded my dad's account before turning 21.
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I had privileges to trade long options and spreads and buy writes at 21. But I’m 10-12 years younger than you so times might have changed.

I don’t see how or why robinhood should be liable. He should have understood his risks. Further more, if someone killed themselves 2 minutes after seeing a massive negative balance there are many other factors at play in that action
 
newwurldmn said:
I had privileges to trade long options and spreads and buy writes at 21. But I’m 10-12 years younger than you so times might have changed.

I don’t see how or why robinhood should be liable. He should have understood his risks. Further more, if someone killed themselves 2 minutes after seeing a massive negative balance there are many other factors at play in that action
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I don’t think the suicide part can be put on RH. If you commit suicide because your wife leaves you for another man, should she be held responsible? It’s unfortunate but shit happens and non of it is a reason to kill yourself.
 
BMK said:
The lawsuit alleges that he attempted to contact RH customer service more than once before taking his life. There was no phone support. According to an article in Forbes, RH says that they have added phone support for some customers, but it is still not available to all accountholders.

The article from Forbes is linked in this thread:

https://www.elitetrader.com/et/threads/just-putting-it-out-there-too-young-to-trade-options.355861/
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they can’t be held liable for being a shitty company.

he chose a video game app over a company with real customer service.
 
ElCubano said:
I don’t think the suicide part can be put on RH. If you commit suicide because your wife leaves you for another man, should she be held responsible? It’s unfortunate but shit happens and non of it is a reason to kill yourself.
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yes! Heartbreaking Jezebel
 
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