The Ferraro Law Firm is proud to announce that attorney Natalia Salas has been appointed Plaintiff’s lead counsel for the Robinhood trading restrictions multidistrict litigation (MDL).

The law firm previously filed a class action lawsuit on behalf of Robinhood users who allege the company illegally halted purchases of stock shares on January 28, 2021 in order to protect the interests of Wall Street institutions over smaller retail investors. This occurred when a group of Reddit users now famously decided to purchase GameStop stock in an effort to raise its price, betting against the hedge funds who were allegedly attempting to short the stock in order to make a profit.

All Robinhood lawsuits have since been consolidated in an MDL in the Southern District of Florida, which is overseen by U.S. District Judge Cecilia Altonaga. It is broken up into four groups, or “tranches.” Attorney Salas will oversee the Robinhood tranche.

“I am honored, humbled, and excited by Judge Altonaga’s appointment as Lead Counsel over the Robinhood tranche, where the majority of the complaints in this MDL fall, and which we successfully advocated should be litigated here in Miami,” said attorney Salas.

“That said, no one lawyer is handling the case by him or herself. I will lead this case alongside my peers, who have shown majority support for my application, backed by The Ferraro Law Firm and its capable and experienced attorneys, including my partners, Jim Ferraro and James Ferraro, Jr., attorney Angelica Novick, my co-counsel, Sean Burstyn and Jeff Kwatinetz, and Special Counsel, Professor Bruce Rogow.”

Responsibilities of the lead counsel include, but are not limited to:

  • Presenting the position of the Plaintiffs to the Court during pretrial proceedings. 
  • Coordinating discovery on behalf of Plaintiffs.
  • Coordinating settlement discussions.
  • Convening meetings of the Steering Committee.
  • Briefing and arguing motions on behalf of Plaintiffs and in opposition to Defendants.

Judge Altonaga issued the leadership announcement on May 18, 2021, which you can read in its entirety here.

Plaintiffs and their legal counsel will benefit from attorney Salas’s leadership and expert guidance, as she has successfully represented multiple clients in high-stakes and complex commercial litigation disputes and arbitrations. Recently, she was recognized as a 2021 Florida Super Lawyer Rising Star and a Lawyer of Distinction.

“I am highly confident in the merits of this case and feel strongly that success here will ultimately turn on how effectively we all work together to prosecute the claims against Robinhood,” said attorney Salas.

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