A group of traders suffered a bitter defeat on August 10, 2023, as the Eleventh Circuit U.S. Court of Appeals nixed their appeal from a ruling in a “meme stock” lawsuit targeting Robinhood. In January 2021, many customers of the online financial services company Robinhood were aggressively buying specific stocks known as “meme stocks” in a frenzy that generated widespread attention. This phenomenon brought Robinhood additional revenue and a huge number of new customers, but it also exposed the company to unprecedented regulatory compliance risk. Robinhood then made a controversial decision: it suddenly restricted its ... (full story)