Enacted in 1986, the Computer Fraud and Abuse Act (CFAA) provides businesses with a private right of action against an individual who “exceeds authorized access” of their computers..
Peoria, IL, USA 104.9 The Wolf
Midwest Communications
PEORIA, Ill. Robinhood has been at the forefront this week of a skyrocketing GameStop stock as users of Reddit drove the price up to over $300 a share.
On Thursday, Robinhood was one of many online brokers to limit buying of the stock.
This decision sparked uproar among many, including United States Representative Alexandria Ocasio-Cortez and Senator Ted Cruz.
Cortez tweeted Thursday that Robinhood’s decision was “unacceptable” and would support a hearing if necessary as a member of the Financial Services Committee.
This is unacceptable.
We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.