Citadel Securities Says It Learned of Trading Curbs on Twitter
(Bloomberg) -- Citadel Securities said it first learned of Robinhood Markets Inc.’s trading restrictions on certain stocks during January’s meme-stock frenzy from Twitter, rebutting accusations that the two firms colluded.
The market-maker fired off a pair of tweets Thursday defending its actions during the upheaval that caused huge rallies in shares of GameStop Corp. and others.
Citadel Securities and its founder Ken Griffin face renewed scrutiny after individual investors filed a class-action lawsuit last week, alleging the trading curbs were enforced as part of a scheme to protect market-makers from losses.
Robinhood, Citadel Securities and other brokerage platforms and clearing firms were named as defendants.
Citadel Securities followed up with a screenshot of what it said was a conversation with Robinhood executives. The names were redacted.
The tweets from Citadel Securities on Thursday follow others earlier in the week defending its actions.
A Citadel spokesman declined to comment beyond the tweets and Robinhood had no immediate comment.
©2021 Bloomberg L.P.