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Thu 5/6/2021 -- by Jan Hill

Back in June, the parents of University of Nebraska student Alexander Kearns found an ominous note on his computer: "How was a 20-year-old with no income able to get assigned almost a million dollars-worth of leverage?" Earlier that day - June 1 - a despondent Kearns had taken his own life after logging into the online brokerage app Robinhood and viewing the balance on his account: negative $730,165. Online brokerage firms including Robinhood, Charles Schwab, E*TRADE and more than a dozen other free or low-cost brokerages, hedge funds, and clearinghouses are fast becoming targets of class-action lawsuits. These cases are crying foul regarding trading restrictions imposed after stock prices for heavily shorted companies such as GameStop shot up, fueled by young day traders who took advantage of the well-publicized "short squeeze." Robinhood, the app popular with retail investors and online day traders, currently faces at least "46 putative class actions and three individual actions" related to the trading restrictions placed on the brick-and-mortar video game retailer GameStop last month. In a recent regulatory filing, Robinhood disclosed information requests from federal prosecutors, the Securities and Exchange Commission, states' attorneys general and various financial regulators regarding the firm's decision to restrict trading in stocks involving GameStop.....

Tue 3/23/2021 -- by Juliette Fairley

Cities in Washington and California are increasingly mandating an additional $4 to $5 an hour of COVID-19 premium pay, a move some in the retail industry see as an end run around the travails of collective bargaining.....