A 20-year-old man killed himself after mistakenly believing he had lost more than £500,000 ($700k) on a trading app. The family of novice trader Alex Kearns is suing Robinhood Financial over his death.
The University of Nebraska-Lincoln student took his life last June after he misunderstood a potential loss from a stock options trade.
Alex began receiving emails from Robinhood shortly after 11pm on June 11, informing him that his account was restricted and that he was required to buy £500k ($700k) in shares as a result of an options trade, according to the lawsuit.
That left his account with a negative balance of £530k ($730k)on a trade that he had understood would be limited to a maximum loss of less than £7,250 ($10k), his family's
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