McGlinchey in the News
Robinhood Will Be In The Hot Seat Thursday When CEO Tenev Appears Before House CommitteeRead Time: 1 min
Member and Co-Chair of the Government and Internal Investigations team Bob Driscoll (Washington) was quoted in a Forbes piece on February 16, 2021, which discussed Robinhood CEO Vladimir Tenev’s upcoming Congressional testimony regarding the company’s role in the recent GameStop stock controversy.
Driscoll said, “… the options for such a hearing are limited. I would advise a fulsome written submission/opening statement that makes the points the witness wants to make about the regulatory framework Robinhood operates in and the true reasons for the trading restrictions that were imposed. That is the only real chance he will have to get a coherent story out,” he said.
“He can’t ‘win’ one of these hearings—the goal is to not lose badly or become the story by pushing back, being obstreperous or lecturing the questioners. He is in their sandbox for a few hours—and he should remember that,” Driscoll counseled.
View the full piece here.