REUTERS/Andrew Kelly/File PhotoAug 10 (Reuters) - Robinhood Markets (HOOD.O) on Thursday defeated an appeal by investors over the stock trading platform's decision to restrict purchases of 13 "meme stocks" during a January 2021 frenzy that squeezed hedge funds. "When Robinhood restricted its customers' ability to buy meme stocks, it took a sizable - and perhaps justifiable - hit in the court of public opinion," Circuit Judge Britt Grant wrote. "But in this court, Robinhood is only accountable for specific legal duties." The meme stock frenzy has been fueled in part by investors using online forums such as Twitter and the subreddit WallStreet Bets. Robinhood is also being sued by investors who sold nine meme stocks at a loss in late January and early February 2021.

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Persons: Andrew Kelly, Robinhood, Britt Grant, Thursday's, Judge Cecilia Altonaga, Jonathan Stempel, Matthew Lewis Organizations: Inc, REUTERS, Thursday, AMC Entertainment, GameStop, Circuit, Twitter, Menlo, Thomson Locations: New York City, U.S, Atlanta, Miami, Menlo Park , California, New York