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The stock market rebounded in historic fashion on March 2, 2020 after a week of losses.  The Dow Jones made its biggest point gain ever, and each of the major indices saw gains over 4 percent.  However, when the market opened on Monday, users of the popular investing app, Robinhood were unable to capitalize on the market’s big day because the brokerage firm and trading platform was inoperable for nearly the entire trading day.

Robinhood-picThe platform began experiencing problems at  9:33 AM ET—three minutes after the market open and before most of the day’s gains occurred.

Users that had planned for a market rebound were essentially stuck watching the rebound happen while being unable to execute the necessary trades.  Other investors have posted pictures of their losses, some totaling as much as $500,000.  Some traders, such as those holding options positions, as well as those holding long volatility products, suffered enormous losses that day because they were not able to trade and their positions essentially rotted on a broken platform.

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Not-So-Waterproof Samsung Phones

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Do you or did you own a Samsung S10e, S10, S10 Plus, S9, S9 Plus, S8, S8 Plus, S7, S7 Edge, Note 9, Note 8, Note 7, A8, A7, and A5, manufactured between 2016 and 2019? Was it advertised as “waterproof”—featuring advertisements where people jumped in pools or oceans with their Samsung phones? Did these advertisements not hold water (pardon the pun)? Don’t worry—you’re not alone!

Thousands of other Samsung phone owners across the country have been experiencing the same problems. Indeed, the Australian Competition and Consumer Commission recently filed a lawsuit against Samsung, and the ACCC Chairman Rod Sims stated that, “Samsung’s advertisements falsely and misleadingly represented Galaxy phones would be suitable for use in, or for exposure to, all types of water … when this is not the case.”

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