Traders’ 4th Bite At ‘Meme Stock’ Apple Still Rotten, Apex Says
By Elise Hansen (June 23, 2022, 5:33 PM EDT) — “Meme stock” investors have once again failed to show that broker-dealer Apex Clearing Corp. caused their trading losses and failed in its duty to them, the firm told a Florida federal court in a bid to dismiss the traders’ fourth complaint.
Apex said Wednesday that it acted within the law and used sound business judgment when it temporarily blocked investors from buying three of the most volatile stocks during last year’s trading frenzy. The proposed class of investors, led by Erik Chavez and Peter Jang, still haven’t been able to lodge viable claims about that decision, even though they’re on their fourth…
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