Schwab Must Face Suit Over Short-Sell Trading Glitch
Melissa Angell, 19 March 2021
A California federal judge ruled Friday that Charles Schwab & Co. must face a proposed class action brought by one of its retail customers challenging an alleged bug in its trading system that prevented the customer from exiting his short position.
U.S. Magistrate Judge Laurel Beeler wrote in her 14-page order that Robert Wright adequately stated a breach of contract claim, finding that factual issues about Schwab’s control of the alleged glitch and Wright’s reaction to the incident preclude dismissal. Continue reading “Article: Schwab Must Face Suit Over Short-Sell Trading Glitch”
Google Hit With $2B Antitrust Suit Over ‘Rigging’ Its Algorithm
Melissa Angell, 11 January 2021
Video-sharing site Rumble, which reportedly has a large base of politically conservative users, hit Google with a $2 billion antitrust suit Monday in California federal court, accusing the tech giant of unlawfully “rigging” its search algorithm to elevate Google’s own YouTube platform over competitors.
Toronto-based Rumble alleges that the tech behemoth diverted massive web traffic by manipulating its search algorithm to preferentially display YouTube links in the search results over those of Rumble and other video rivals. Continue reading “Article: Google Hit With $2B Antitrust Suit Over ‘Rigging’ Its Algorithm”