Robinhood Account Takeover Settlement

Settlement Structure: Claims Made

Active: Closed

Closed Settlement Statement:

According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.

Case Summary:

This settlement resolves a class action against Robinhood Financial, LLC and Robinhood Securities, LLC, alleging the companies did not have adequate security measures in place for accounts that used its trading platform, enabling certain accounts to be taken over by unauthorized parties. No evidence was found of a breach of the Robinhood computer network. Robinhood has already provided funds to reimburse those who suffered unauthorized transactions in their accounts.

Docket Number:


Company: Robinhood Financial, LLC

Filing Deadline: January 17, 2023

Class Period: January 1, 2020 to April 27, 2022

Objection Deadline: November 3, 2022

Exclusion Deadline: November 3, 2022

Final Approval Hearing: May 16, 2023

Proof of Purchase:

If you wish to claim reimbursement for credit monitoring or identity theft products, you must provide documentation showing the amount you paid and when you bought these products.


You may be eligible if you are an individual living in the US whose Robinhood accounts were accessed by unauthorized persons between January 1, 2020 and April 27, 2022, or who notified Robinhood their accounts had been so accessed between those dates.

Typical Settlement Amount:

(1) Reimbursement for unreimbursed out-of-pocket expenses: Up to $100. Does not include trading losses or lost opportunity damages. No additional supporting documentation required.
(2) Reimbursement for credit monitoring or identity theft products or services: Up to $100 for products or services bought because of unauthorized access to your account. Requires documentation of what you paid and when you paid it.
(3) Reimbursement for lost time: $20/hour for up to three hours of lost time. No additional supporting documentation required.
(4) Credit monitoring services for two years.
If total claims for reimbursements total more than $500,000, claims will be decreased pro rata to equal a total of $500,000.

Total Settlement Amount: $20 million from Alcon; $55 million from JJVCI; other amounts paid previously by other companies

Class Representative Proposed Incentive Fee:


Law Firm:
Erickson Kramer Osborne, LLP

Claim Form: Robinhood Account Takeover Settlement Claim Form

Case Name: Siddharth Mehta, Kevin Qian, and Michael Furtado v. Robinhood Financial LLC and Robinhood Securities, LLC

Settlement Website: Robinhood Account Takeover Settlement Website

Claims Administrator:
Angeion Group

Claims Administrator Contact Information:

Mehta v. Robinhood Settlement
Settlement Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103

Tags: Exposing Private Information, Exposure to cyber crime, Your Privacy