Robinhood Sued by<br />Parents of 20-Year-Old Trader<br />Who Died by Suicide.<br />Robinhood has been hit<br />with a wrongful death<br />lawsuit by the family of<br />20-year-old Alex Kearns. .<br />His parents claim that Alex died by<br />suicide last June after Robinhood caused him to<br />incorrectly believe he was far in debt.<br />The stock trading application reportedly<br />displayed an outrageous negative balance of $730,000<br />in his account the day before his death. .<br />Alex tried to contact Robinhood, but received<br />only a generic email response. .<br />In his suicide note, Alex questioned how that<br />could have happen because he “only thought [he]<br />was risking the money [he] actually owned.”.<br />In addition to wrongful death, the family’s lawsuit also accused Robinhood of unfair business practices.<br />A company spokesperson has since released a<br />statement to TMZ, saying they were “devastated” by<br />Alex’s death and committed to making “improvements.”.<br />We’ve made improvements to our options offering.<br />These include adding the ability to exercise<br />contracts in the app, guidance to help customers<br />through early assignment, updates to how we<br />display buying power, .., Robinhood, via TMZ.<br />... more educational materials<br />on options, and new financial criteria and revised<br />experience requirements for new customers<br />seeking to trade Level 3 options, Robinhood, via TMZ.<br />Robinhood also reportedly added live voice support and<br />changed protocols to allow faster access to help
