Robinhood, the online brokerage firm known for its stock trading app, now faces over 30 lawsuits in 10 states related to the brokerage firm's GameStop stock freeze last week. Members of the /r/WallStreetBets subreddit helped propel the stock values of multiple "meme stocks," including AMC, Bed Bath & Beyond, BlackBerry, GameStop, and Nokia, garnering massive media attention. Amidst the unprecedented surge, Robinhood abruptly froze trading on several of these stocks in a "risk-management decision." A number of the lawsuits filed against Robinhood allege market manipulation.
