Robinhood Reportedly Settles Over 2020 Outage

The stock-trading app went offline in March 2020 as the stock market plunged due to coronavirus fears.

Corinne Reichert Senior Writer
Corinne Reichert (she/her) grew up in Sydney, Australia and moved to California in 2019. She holds degrees in law and communications, and currently writes news, analysis and features for CNET across the topics of electric vehicles, broadband networks, mobile devices, big tech, artificial intelligence, home technology and entertainment. In her spare time, she watches soccer games and F1 races, and goes to Disneyland as often as possible.
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Corinne Reichert

Robinhood has reportedly agreed to settle a class-action lawsuit filed by users who alleged the app's outages in March 2020 amid the steep stock market drop prevented them from trading.

Attorneys for Robinhood said in a federal court filing Thursday that they've reached a settlement, according to Bloomberg and Reuters.

Details of the settlement weren't disclosed.

Robinhood didn't immediately respond to a request for comment.

The stock-trading app went down on March 2 and March 9, 2020, as the stock market plunged due to COVID-19 fears in the early days of the pandemic.