Robinhood settles lawsuit over 20-year-old trader who committed suicide thinking he owed $730,000

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Robinhood has settled a wrongful death lawsuit filed by the family of a 20-year-old trader who killed himself last summer after mistakenly believing he owed $730,000 to the online broker.

Alexander Kearns,20, was trading on June 11 last year using the Robinhood app when the app suddenly put a hold on his account and showed a negative balance of $730,000 and that he needed to pay over $170,000 in the coming days.

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“He thought he blew up his life,” Kearns’ dad, Dan Kearns, said in an interview with CBS last year. “He thought he screwed up beyond repair.”

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Kearns, a University of Nebraska student reportedly jumped in front of an approaching freight train on June 12 after leaving a suicide note detailing his predicament at finding the negative balance.

mazech.com/2021/07/robinhood-settles-lawsuit-over-20-year-old-trader-who-committed-suicide-thinking-he-owed-730000/

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