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Massachusetts looks to bar Robinhood in state; company sues

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Regulators in Massachusetts are trying to effectively bar the popular Robinhood trading app from the state.

The Associated Press

The legal battle began in December, when state regulators filed an administrative complaint against Robinhood, whose easy-to-use app has helped bring a new generation of investors to the market. The app has grown so popular that the company is preparing to sell its own stock on the market through an initial public offering.

Regulators are asking a hearing officer in the administrative case to consider revoking Robinhood's registration as a broker-dealer in the state.

 

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