DoNotPay.com, an online service that aims to streamline a bevvy of laborious processes such as fighting parking tickets and getting refunds, has now launched a tool for more easily joining a class action lawsuit against microtrading platform Robinhood which stopped users from trading GameStop and other company stocks on Thursday.
"I was flooded with hundreds of emails, texts and Tweets asking for us to help people join the class action against Robinhood," Joshua Browder, the CEO of DoNotPay told Motherboard in an online chat. "I think that both the legal and financial system is stacked against the average person and this case is so important because it combines them both," he added.
Do you work at Robinhood or any other microtrading platform that has blocked GameStop or other stock? We'd love to hear from you. Using a non-work phone or computer, you can contact Joseph Cox securely on Signal on +44 20 8133 5190, Wickr on josephcox, OTR chat on firstname.lastname@example.org, or email email@example.com.
Specifically, Browder said the bot directs users to the class action lawsuit filed against Robinhood in the Southern District of New York that Motherboard reported on earlier Thursday.
"Robinhood purposefully, willfully, and knowingly removing the stock 'GME' from its trading platform in the midst of an unprecedented stock thereby deprived retail investors of the ability to invest in the open-market and manipulating the open-market," the class action complaint reads.
Browder said his site is also adding some extra functionality, including the ability to file complaints with the Securities and Exchange Commission (SEC); arbitration requests for those that don't want to wait; and add other class actions as they appear. At the time of writing, Browder said these features will be live in the next few hours.
"I have several friends who lost thousands," Browder said, referring to the locks on stock trading. "I'm too busy coding to day trade though."
DoNotPay requires a monthly subscription.
It is unclear how successful a class action lawsuit will be due to arbitration agreements in Robinhood's terms of service.
On Thursday, Robinhood stopped users from buying GameStop stock after investors including members of the WallStreetBets subreddit deliberately tried to increase the stocks' value by buying and holding it en masse. Politicians as far apart as Representative Alexandria Ocasio-Cortez and Senator Ted Cruz have lambasted Robinhood's actions.
Earlier Robinhood said it had no comment on the class action lawsuit filed against it.
Update: This piece has been updated to add that DoNotPay requires a monthly subscription.
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