Supreme Court asks Trump administration for its views on Robinhood IPO suit

On June 1, 2026 the Supreme Court asked the Trump administration for its views on whether to hear Robinhood's bid to end a proposed class action over its 2021 IPO disclosures. The Ninth Circuit revived a suit that a district judge had dismissed in 2024. A decision to take the case would put the disclosure dispute before the justices, which is a legal overhang for the stock.

• Robinhood asks the Supreme Court to quash a proposed class action over its 2021 IPO
• Plaintiffs say the IPO documents did not disclose reliance on meme-stock and crypto trading
• A district judge dismissed the suit in 2024; the Ninth Circuit revived it
• The source does not show a decision on whether the Court will hear the case