A U.S. federal judge has approved a $9 million settlement in a class-action lawsuit against cryptocurrency and stock trading platform Robinhood. Robinhood Financial LLC was ordered to pay $9 million to settle a lawsuit over its "Refer a Friend" program, which allows users to generate and send text messages to their cellphone contacts via a trading app inviting them to join the platform. The move violates Washington state's Business Email Act and Consumer Protection Act, according to the 2021 lawsuit.