Parents sue Robinhood after 20 year old son committed suicide

[Axtremus]

https://www.cbsnews.com/news/alex-kearns-robinhood-trader-suicide-wrongful-death-suit/

“Twenty-year-old Alex Kearns took his own life last June mistakenly believing he'd lost nearly $750,000 in a risky bet on Robinhood, the stock-trading app where he started trading as a teenager.”

That was June 2020, well before the GameStop debacle.

[Klaus]

Hm. This was an adult. Provided he was properly educated about the risks of trading derivatives (not just a mouse click on twenty pages of legalese, but a real education on the risks), I don't think the company should be responsible for his death. They can be responsible for reporting wrong numbers, as they seem to have done for a while, but it shouldn't make a difference whether that person was 18 or 48 years old.

[jodi]

@klaus agree. Though As a parent (of a kid who at that age we were supporting in college) I probably would have known more about what he was doing trading/risk wise (as I tend to look at things from the worst case scenario) so we could advise.

[Loki]

The timing is perfect though given #wallstreetbets. Kids have been seduced and parents should become aware of this risky behavior that is likely to expand amongst kids.

Good PSA.

[jon-nyc]

Even if he did owe the 750k he could zero it out in bankruptcy and have good credit again in no time.

Also, I doubt any broker is extending that much credit to people with small accounts. It's very likely the account can't pay, but the broker has to cover the loss.