Robinhood says requiring more IPO disclosures could bury investors in trivial information. A serious hazard. Someone might delay buying the stock long enough to read about it.

The Supreme Court agreed Friday to hear the company’s appeal in an investor lawsuit over its 2021 public offering. The investors allege Robinhood failed to disclose that a meme-stock and cryptocurrency trading frenzy had faded before the IPO, along with other weakening performance. Robinhood rejects that account and says it extensively warned about risks of a downturn.

There is the disagreement: could get worse versus already got worse. Financial markets can trade in fractions of a second, but apparently the past tense requires Supreme Court assistance.

The appeal, backed by the Trump administration, concerns the legal standards for letting the lawsuit proceed. The Supreme Court has not decided whether Robinhood misled anyone.

To explain why it needs the justices’ help, Robinhood warns of massive liability and burdensome disclosure requirements. These are financial dangers the company considers important enough to describe clearly, in writing, before a decision is made.

So the disclosure technology does exist.

It switches on beautifully when the money at risk is Robinhood’s.

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