Robinhood referral text messages $9M class action settlement (2024)

Top Class Actions|March 12, 2024

Category: Closed Class Actions

Robinhood agreed to a $9 million settlement to resolve a class action lawsuit claiming its referral text messages violated Washington telemarketing laws.

The settlement benefits Washington residents who received a Robinhood referral program text message between Aug. 9, 2017, and Feb. 13, 2024, and did not clearly and affirmatively consent in advance to receive such referral text messages.

According to the class action lawsuit, Robinhood sent unsolicited text messages to consumers as a part of its refer-a-friend marketing program. The plaintiffs claim these text messages violated Washington’s Commercial Electronic Mail Act (CEMA) and the Washington Consumer Protection Act (CPA) because they did not first provide explicit consent to Robinhood.

Robinhood is an investment app that allows consumers to invest their money without using a traditional brokerage firm.

Robinhood hasn’t admitted any wrongdoing but agreed to a $9 million settlement to resolve the class action lawsuit allegations.

Under the settlement terms, class members who submit a timely and valid claim form will receive a payment after attorneys’ fees, settlement costs and other expenses are deducted from the settlement fund. Class counsel estimates each class member’s payment will be between $45 and $90; however, the actual amount could be higher or lower depending on the number of valid claims filed.

The deadline for exclusion and objection is May 13, 2024.

The final approval hearing for the Robinhood settlement is scheduled for July 16, 2024.

Class members must submit a valid claim form by May 13, 2024, to receive a settlement payment.

Claims code (if available) and the phone number at which the class member received the text messages OR, for those without a claims code, proof of the Washington address at which the class member lived at the time of receipt of the refer-a-friend program text messages (an image of their Washington driver’s license, employment documents reflecting the class member’s name and a Washington address or a utility, credit card, mobile phone or other bill reflecting the class member’s name and a Washington address. The name you provide on the Claim Form should match the name on your proof of residence.

If the class member does not have a claims code or their phone number cannot be verified, they must provide the Washington address at which they lived at the time of receipt of the refer-a-friend program text messages and provide an image or screenshot of the text they received.

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

RobinhoodReferralSettlement.com

Michelle Drake
Sophia M Rios
BERGER MONTAGUE PC

Beth E Terrell
Jennifer Rust Murray
TERRELL MARSHALL LAW GROUP PLLC

1. Samuil Packer says:

   May 14, 2024 at 6:25 am

   Add me to the list and Settlemnt

   Reply

2. Reta Littlejohn says:

   May 10, 2024 at 5:09 am

   Add me

   Reply

   See Also

   Robinhood Support

3. Billie says:

   May 9, 2024 at 7:04 am

   I open a account whit Robbin hood and then when I went To check on it they said I didn’t have account with them
   The had mix mine son with my account

   t

   Reply

4. Barbara L. Rogers says:

   May 8, 2024 at 7:27 pm

   please add me

   Reply

5. Juan Gonzalez says:

   May 8, 2024 at 8:04 am

   I have a question I live in California and they been sending me mail saying my account has important business that needs my attention but when I check it out on the app there’s nothing on my account. I tried talking to customer service but it’s hard to get a hold of them

   Reply

6. Tangya says:

   May 3, 2024 at 5:42 am

   Add me

   Reply

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