SAN FRANCISCO, Jan. 29, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges GameStop Corp. (NYSE: GME), AMC Entertainment (NYSE: AMC) and BlackBerry Ltd. (NYSE: BB) investors to submit their losses now. The firm is investigating a potential market manipulation scheme perpetrated and certain investors may have valuable claims.
Contact an Attorney Now: BrokerMarketManipulation@hbsslaw.com
Online Brokerages’ Potential Market Manipulation Scheme:
The firm is investigating whether certain online brokerage firms’ imposition of trade restrictions on GME, AMC, and BB constitutes an illegal market manipulation scheme in violation of U.S. federal securities laws.
On Jan. 28, 2021, online brokerages including Robinhood, Interactive Brokers, and Webull restricted new purchases of certain high-flying stocks, including GME, AMC and BB, as well as dramatically increased margin limits on long stock positions. Although the brokerages cited “market volatility” as the reason, media outlets have reported that the restrictions were imposed to protect certain Wall Street hedge funds that had taken massive short positions in these stocks.
Consequently, retail investors using these brokers’ platforms were unable to buy shares, thereby depressing trade volume and causing the stock price of these companies to plummet. As a result of this artificial manipulation, certain investors who traded on January 28th were damaged.
“We’re focused on investor losses and whether the online brokerages depressed trade volume to placate Wall Street fat cats,” said Steve Berman, Hagens Berman’s founder and managing partner.
If you are an injured GME, AMC or BB investor, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BrokerMarketManipulation@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895