Trending...
- shopVOX Releases New Machine Scheduling Tool to Help Custom Shops Improve Capacity Planning
- California: Governor Newsom: Trump has betrayed us with failed economic policies
- California: 130 CHP officers join state's law enforcement family
NEW YORK - Californer -- On the evening of January 28, 2021 shortly before midnight, a class action was filed against Webull Financial LLC by Siri & Glimstad LLP on behalf of a class of individuals that suffered losses due to Webull's actions to restrict trading on its online stock trading platform. Webull, on January 28, 2021, prevented its 11 million customers from trading various stocks that had been rising earlier in the day, including those of GameStop (GME), AMC Entertainment (AMC) and Koss (KOSS).
Webull's move has prompted many investors and pundits to declare that the market is "rigged" against retail investors. The class action complaint, alleges that "Webull's actions occurred in the midst of a rise in those companies' stock share prices and thereby deprived its customers, retail investors, of the ability to invest in the open-market and manipulate the open-market for the effected stock." Webull's CEO denies this allegation and has blamed its clearing firm, Apex, for requiring these restrictions on trading due to regulatory capital requirements.
More on The Californer
The class action complaint was filed by the attorneys Aaron Siri, Mason Barney and Elizabeth Brehm of Siri & Glimstad LLP.
Filed with the UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
Case # 1:21-cv-00799
Webull's move has prompted many investors and pundits to declare that the market is "rigged" against retail investors. The class action complaint, alleges that "Webull's actions occurred in the midst of a rise in those companies' stock share prices and thereby deprived its customers, retail investors, of the ability to invest in the open-market and manipulate the open-market for the effected stock." Webull's CEO denies this allegation and has blamed its clearing firm, Apex, for requiring these restrictions on trading due to regulatory capital requirements.
More on The Californer
- Case Study Uncovers Major Gap in Sliding Screen Doors
- TRILLVISION Film Festival Unveils Official Selections for Summer 2025
- Cordova Courier Expands Local Courier Services in Oakland, Delivering Speed, Safety, and Compassion
- TOMORROW: Governor Newsom and California leaders to host Texas Democrats breaking quorum to fight GOP map-rigging
- VPO Inc. to Debut Revolutionary Modular Oil Vitalizer System at SEMA 2025
The class action complaint was filed by the attorneys Aaron Siri, Mason Barney and Elizabeth Brehm of Siri & Glimstad LLP.
Filed with the UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
Case # 1:21-cv-00799
Source: Siri & Glimstad LLP
0 Comments
Latest on The Californer
- Fiserv, Inc. (FI) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
- Long Beach: City to Host New Horizons: A Career Fair for Second Chances
- HollyShorts Film Festival Celebrates 21 Years and selects '12 HOURS' For 2025 line-up
- Stay Cool for Less! Chill Factor Cooling & Heating Offers $79 AC Tune-Up in Norco, CA
- The Mogharebi Group Arranges $21 Million Sale of Multifamily Property in Covina, CA
- Wise Business Plans Celebrates 15,000 Plans Written and $2 Billion Raised for Entrepreneurs
- 123Invent Inventor Develops Improved Towel for Shared Living Situations (LOS-297)
- IEI Technology Unveils IASO-W08PLED-N6210 Medical Panel PC to Streamline Digital Workflows
- California: Coordinated organized retail theft crackdown recovers $8 million in stolen assets this year
- Strategy Maven Encourages Direct-to-Consumer Brands to Make Email and SMS Strategy Go Beyond Blast
- Databahn Reveals Smart Sales Agent for Strategic Account Plans
- Editorial Freelancers Association and Thurgood Marshall College Fund Announce Partnership to Advance Editorial Careers for HBCU Students
- Stella Foundation Announces 2025 Women's Fast Pitch Semifinalists
- ASI Showcasing Constituent Engagement Solutions at ASAE Annual Meeting & Spotlighting iMIS® Partner Marketplace
- LIB's Walk-In Environmental Chambers: Scalable, Specialized, and Built for Industry Extremes
- Vitanergy Health US Inc. Launches Three New Women's Supplements in the US: Vegan, Clean-Label, and Made in the USA
- Fibrecross Unveils Multi-Core Fiber Coupling Connectors
- Boingo Emerges as the #1 Platform for Finding Real Estate in Mexico — Outpacing Traditional Portals
- City of Long Beach Opens Youth Shelter and Navigation Center to Support Youth Experiencing Homelessness
- California: Governor Newsom announces appointments 8.6.25