And when those investors needed help — as Alex did the day he died — Robinhood provided no "meaningful customer support," the suit says.
Alex was interested in investing, and before he graduated from high school, he opened an account with Robinhood.
Dan Kearns said his household was "joyful," after the pandemic brought Alex home early from college.
It was "Grandma and Grandpa money," Dan Kearns said, from birthday gifts and cash saved from his summer job lifeguarding.
Dan Kearns said, adding he spoke with his son about responsible investing and believed Alex had "limited exposure.".
But Dan and Dorothy Kearns didn't realize Robinhood had also approved Alex to buy and sell options, a risky financial instrument with the potential for huge losses.
"I don't understand how they allowed that to happen in the first place," Dan Kearns said. »