Outraged Robinhood users threaten class-action lawsuit after stock-trading app suffers daylong outage

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The popular stock-trading app Robinhood restored service early Tuesday after being down for a full day of trading on Monday.

In an email to users at about 3 a.m. ET, the app said: “We’re reaching out to let you know that Robinhood is currently back up and running. We want to assure you that your funds are safe and personal information was not affected. When it comes to your money, issues like this are not acceptable. We realise we let you down, and our team is committed to improving your experience.”

The outage came during the largest rally markets had seen in years. One Reddit user said that they lost $US15,000 and that they were considering filing a class-action lawsuit and seeking other Robinhood users to join.

The recently created Twitter account Robinhood Class Action gained over 4,800 followers, many of whom sent in pictures ostensibly showing their losses. One person said they lost nearly $US500,000.

Some users have reported that Robinhood is offering three free months of Robinhood Gold, its premium offering that costs $US5 a month. Robinhood did not respond to Business Insider’s request for comment.