GameStop Short Sellers Conspiracy to Stop Retail Buyers Antitrust Complaint

February 1, 2021

What was all that about GameStop trades? This antitrust class action centers on that story, bringing suit on behalf of small retail investors against a long list of defendants—brokerages, funds, and clearinghouses—with familiar names, such as Morgan Stanley Smith Barney, E*Trade, Robinhood, TD Ameritrade, and Charles Schwab. The complaint alleges that individual investors “were stripped of the rights to control their investments due to a large, overarching conspiracy to prevent the market from operating freely and to stop Defendants from hemorrhaging losses as a result of their highly speculative short selling strategies.”