If you received a Robinhood referral text message while residing in Washington, you may be entitled to payment in a class action settlement

SEATTLE, March 14, 2024 /PRNewswire/ -- JND Legal Administration

A proposed $9 million settlement has been reached in a class action lawsuit entitled Moore v. Robinhood Financial LLC, No. 2:21‐cv‐01571‐BJR (W.D. Wash.) (the "Lawsuit"). The Settlement has not been approved by the Court yet. Settlement Class Member must submit a valid Claim Form by May 13, 2024 to receive a payment. Payments are estimated to be between $45 and $90 per Settlement Class Member that files a timely and valid Claim Form. You may submit a Claim Form online at www.RobinhoodReferralSettlement.com.

What is this about?

The Lawsuit claims that Robinhood Financial LLC ("Robinhood" or "Defendant") violated Washington state laws, including Washington's Commercial Electronic Mail Act ("CEMA") and the Washington Consumer Protection Act ("CPA"), by substantially assisting Robinhood users in the transmission of unsolicited commercial text messages to prospective customers as a part of its refer-a-friend marketing program. Specifically, the Class Representatives allege that Robinhood's trading app allowed users to generate and send pre-filled text messages to users' contacts without first obtaining the recipients' clear and affirmative consent to receive commercial text messages. Under these laws, a person is entitled to $500 for each unlawful text message and a court may award an additional payment up to $1,500, as well as reasonable attorneys' fees and costs. 

Robinhood denies any wrongdoing and the Court has not decided whether Robinhood did anything wrong. Robinhood has asserted defenses that it believes would be successful at trial. In agreeing to settle, Robinhood maintains that it complied with the law and does not admit any wrongdoing. The Lawsuit is proceeding in the United States District for the Western District of Washington before the Honorable Judge Barbara J. Rothstein.

For additional details regarding the Lawsuit and your rights, visit www.RobinhoodReferralSettlement.com.

Am I a Settlement Class Member?

You are a Settlement Class Member if you (1) received a Robinhood referral program text message between August 9, 2017 and February 13, 2024; (2) were a Washington resident at the time you received the text; and (3) you did not clearly and affirmatively consent in advance to receive the text.

Your legal rights and options.

• File a Claim Form by May 13, 2024. If you are a member of the Settlement Class, you have a right to complete a Claim Form to receive a Settlement payment, estimated to be between $45 and $90 per Settlement Class Member, although the actual amount could be higher or lower depending on how many valid Claim Forms are received. A Claim Form can be obtained from the settlement website at www.RobinhoodReferralSettlement.com. A Claim Form can be (a) completed and submitted electronically on the website, or (b) printed, completed, and submitted by mail. If your Claim Form is approved and the Settlement is approved by the Court and becomes final, you give up your right to bring your own lawsuit about the issues in this Lawsuit. 
• Do Nothing. If you do nothing and the Settlement becomes final, you will not receive a Settlement payment and you give up your right to bring your own lawsuit about the issues in this Lawsuit.
• Exclude Yourself by May 13, 2024. If you exclude yourself from the Settlement (also called "opting out"), you give up your right to receive a Settlement payment, but you keep any rights you may have to bring your own lawsuit about the issues in this Lawsuit. To exclude yourself from the Settlement Class, you must mail a written "Request for Exclusion" to the Settlement Administrator that is postmarked by May 13, 2024. Your written request must include: (i) your name, address, and telephone number; (ii) a statement confirming that you want to exclude yourself from the Settlement Class; (iii) the case name and number (Moore v. Robinhood Financial LLC, No. 2:21‐cv‐01571‐BJR (W.D. Wash.)); and (iv) your signature and the date. 
• Object or Comment by May 13, 2024. If you do not exclude yourself from the Settlement, you may object to or comment about the Settlement and/or Class Counsel's request for attorneys' fees, expenses, and service awards to the Class Representatives who brought this Lawsuit.

Who represents me?

The Court has appointed a team of lawyers from Terrell Marshall Law Group PLLC and Berger Montague PC to serve as Class Counsel. They will ask the Court to pay them attorneys' fees not to exceed 25% of the $9 million settlement fund ($2,250,000), out of pocket costs currently estimated to be $151,215, and Class Representative Awards of $10,000 each to Plaintiffs Cooper Moore and Andrew Gillette ($20,000 total).

When will the Court consider the Settlement?

The Court will hold a Final Approval Hearing at 10:00 a.m. Pacific on July 16, 2024. At that hearing, the Court will hear any objections concerning the fairness of the Settlement, decide whether to approve the requested attorneys' fees and costs, Class Representative awards, and determine whether the Settlement should be approved. You do not have to attend the Final Approval Hearing, but you are welcome to come at your own expense.

Where can I get more information?

A more detailed notice and important case documents are at www.RobinhoodReferralSettlement.com. If you have any questions, please contact the Settlement Administrator at 877-231-0646. Do not contact the Court with questions.

SOURCE JND Legal Administration