Emergent Fidelity Technologies, the offshore entity that holds 55 million shares of Robinhood Markets Inc (NASDAQ: HOOD), filed for bankruptcy on Friday, as multiple parties try to claim ownership of the stock, Bloomberg reported.
The value of the Robinhood shares is estimated to be over $590 million at current market prices and has been seized by the U.S. government.
The Chapter 11 bankruptcy filing gives Emergent Fidelity and its liquidators, appointed by a court in Antigua, the power to defend their assets …
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