(Reuters) – A U.S. judge on Wednesday allowed customers of Robinhood Markets Inc to sue the online trading platform over its alleged fraudulent concealment of the costs of sending their trade orders to other broker-dealers.
U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California rejected Robinhood’s motion to dismiss the case, saying customers had standing to sue over securities they bought and sold on its platform.
Robinhood had said the customers lacked standing because they did not allege any misstatements about the issuers of those securities.
(Reporting by Jonathan Stempel in New York; Editing by Chris Reese)
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