Robinhood referral text messages $9M class action settlement

Robinhood agreed to a $9 million settlement to resolve a class action lawsuit claiming its referral text messages violated Washington telemarketing laws.

The settlement benefits Washington residents who received a Robinhood referral program text message between Aug. 9, 2017, and Feb. 13, 2024, and did not clearly and affirmatively consent in advance to receive such referral text messages.

According to the class action lawsuit, Robinhood sent unsolicited text messages to consumers as a part of its refer-a-friend marketing program. The plaintiffs claim these text messages violated Washington’s Commercial Electronic Mail Act (CEMA) and the Washington Consumer Protection Act (CPA) because they did not first provide explicit consent to Robinhood.

Robinhood is an investment app that allows consumers to invest their money without using a traditional brokerage firm.

Robinhood hasn’t admitted any wrongdoing but agreed to a $9 million settlement to resolve the class action lawsuit allegations.

Under the settlement terms, class members who submit a timely and valid claim form will receive a payment after attorneys’ fees, settlement costs and other expenses are deducted from the settlement fund. Class counsel estimates each class member’s payment will be between $45 and $90; however, the actual amount could be higher or lower depending on the number of valid claims filed.

The deadline for exclusion and objection is May 13, 2024.

The final approval hearing for the Robinhood settlement is scheduled for July 16, 2024.

Class members must submit a valid claim form by May 13, 2024, to receive a settlement payment.

Who’s Eligible

Washington residents who received a Robinhood referral program text message between Aug. 9, 2017, and Feb. 13, 2024, and did not clearly and affirmatively consent in advance to receive such referral text messages.

Potential Award

$90

Proof of Purchase

Claims code (if available) and the phone number at which the class member received the text messages OR, for those without a claims code, proof of the Washington address at which the class member lived at the time of receipt of the refer-a-friend program text messages (an image of their Washington driver’s license, employment documents reflecting the class member’s name and a Washington address or a utility, credit card, mobile phone or other bill reflecting the class member’s name and a Washington address. The name you provide on the Claim Form should match the name on your proof of residence.

If the class member does not have a claims code or their phone number cannot be verified, they must provide the Washington address at which they lived at the time of receipt of the refer-a-friend program text messages and provide an image or screenshot of the text they received.

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

05/13/2024

Case Name

Moore, et al. v. Robinhood Financial LLC, Case No. 2:21-cv-01571-BJR, in the U.S. District Court for the Western District of Washington

Final Hearing

07/16/2024

Settlement Website

RobinhoodReferralSettlement.com

Claims Administrator

Robinhood Referral Settlement
c/o JND Legal Administration
PO Box 91166
Seattle, WA 98111
info@RobinhoodReferralSettlement.com
877-231-0646

Class Counsel

Michelle Drake
Sophia M Rios
BERGER MONTAGUE PC

Beth E Terrell
Jennifer Rust Murray
TERRELL MARSHALL LAW GROUP PLLC

Defense Counsel

Kenneth E Payson
Lauren Burdette Rainwater
Eric Franz
Theo A Lesczynski
DAVIS WRIGHT TREMAINE LLP