Customers Sue Robinhood Over Data Security Breach

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By Dean Seal (November 12, 2021, 7:44 PM EST) — Robinhood Markets Inc. is facing a proposed class action alleging negligence and breach of contract related to its recent disclosure of a data security breach that exposed millions of customers’ personal information.

Four Robinhood users filed a complaint in New York federal court arguing the popular online brokerage should be held accountable for failing to implement the “cyber-security procedures and protocols necessary to protect” its customers’ personal identifying information, or PII.

“As a result of defendant’s failure to take reasonable steps to adequately protect the PII of current and former Robinhood users, plaintiffs’ and class members’ PII is now on the…

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