“When I was a young boy in Bulgaria…”
“Mr. Tenev, this is the SUPREME COURT.”
“Thank you for that very important question, Your Honor.”
In case you forgot, Vlad Tenev's previous trip to DC involved getting publicly humiliated by Congress while attempting to filibuster his way out of a public execution tell a touching story about growing up in a poor European company.
This time, he's skipping Congress and going STRAIGHT to the nine people who can make AOC and her Democrat buddies shut TF up.
The reason?
The man who famously disabled the BUY button on GameStop is now begging the Supreme Court to disable the SUE button on its own shareholders.
Karma’s a b****, ain’t it?
On Friday, the Supreme Court agreed to hear Robinhood's appeal in a lawsuit accusing the brokerage of misleading investors during its $2.1 billion IPO back in July 2021.
You remember 2021, right?
GameStop. AMC. Dogecoin. Stimulus checks.
An entire generation of brokies discovering options trading before discovering what a deductible was.
And Robinhood was making money hand over fist off these degenerates.
Until January 2021, when the brokerage famously restricted customers from buying GameStop and other meme stocks as clearinghouse deposit requirements exploded.
Meaning, customers could SELL their shares… but buying more?
ACCESS DENIED.
Congress subsequently hauled Vlad in for questioning, where his now-infamous childhood-in-Bulgaria introduction became an instant internet meme.
But six months later?
Robinhood decided the best way to capitalize on America's newfound obsession with speedrunning bankruptcy investing was to sell Americans a piece of the casino itself.
At $38 PER SHARE.
“Congratulations! You've unlocked the opportunity to lose money on the company that helped you lose money!”
Except according to investors now suing Robinhood, there was one teeny-tiny problem.
The casino was ALREADY starting to empty.
The plaintiffs allege that Robinhood failed to adequately disclose how dependent its business had become on speculative trading in GameStop, Dogecoin, and other meme-fueled assets.
As in, by IPO day, Vlad had become the most hated man on Reddit, Robinhood's reputation was six feet underground in the toilet, and Webull was looking like the hot librarian who took off her glasses.
And when subsequent financial results revealed weakening revenue and trading metrics?
Shareholders got shafted.
Robinhood, however, insists its IPO paperwork warned investors that the ridiculous trading volumes of early 2021 might not last.
“Have you tried reading the terms and conditions?” -Vlad's lawyers, probably
And initially, that defense worked.
A federal judge dismissed the lawsuit in 2024, only for an appeals court to revive it in 2025.
Now the Supreme Court will decide whether omitting material financial information from IPO documents can create liability without showing that an existing statement was misleading.
Even Trump's administration is backing Robinhood.
A ruling is expected by June 2027.
Meanwhile, Vlad just dropped some numbers that probably have the crypto bros reconsidering their life choices punching drywall again.
On Thursday, the brokerage revealed that October cryptocurrency trading volume PLUNGED 48% year-over-year to $17 billion.
But don't worry, Vlad's been busy gamblingmaxxing diversifying.
His newest obsession?
Prediction markets.
Robinhood customers traded 5.9 billion event contracts in October, up 136% from a year earlier.
Shareholders: “Vlad, I thought we were trying to reduce our dependence on speculative trading?”
Vlad: “We are. Now they're betting on whether Jensen Huang's alleged fourth mistress drops the receipts before the next CPI print.”
And with 28.9 million funded customers, Robinhood certainly isn't going anywhere.
But the irony is almost too perfect.
The company that built its empire democratizing Wall Street is now asking nine Supreme Court justices to protect it from the very investors it promised to empower.
At the time of publishing this article, Stocks.News holds positions in Robinhood and Gamestop as mentioned in the article.
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