Family of Naperville man who killed himself after believing he lost over $730K sues Robinhood

Chicago News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

NAPERVILLE, Ill. — The Robinhood trading app is being sued over the suicide of a college student from Naperville.

Alexander Kearns was a graduate of Neuqua Valley High School and opened a Robinhood account while still in high school.

Last June, the 20-year-old made an options trade that he believed lost more than $730,000. Money he did not have.

His family said he took a screenshot and wrote a suicide note. His body was found the next day. He had thrown himself in front of a train.

In truth, he did not lose that money because the trade was just an option, but Alex did not understand that.

His family says Robinhood should never have given almost a million dollars worth of leverage to someone with no income.

Read more Chicago News Headlines here

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


Latest News

More News