ROBINHOOD ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Robinhood Markets, Inc. and Encourages Investors to Contact the Firm – Lawyer Monthly

NEW YORK– (BUSINESS WIRE) – # Class – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed against Robinhood Markets, Inc. (“Robinhood” or the “Company”) ”) (NASDAQ: HOOD) in the United States District Court for the Northern District of California on behalf of all individuals and legal entities holding Robinhood Securities as of the July 30, 2021 initial public offering and / or traceable, both dates including (the“ Class Period “). Investors have until February 15, 2022 to apply to the court for appointment as the lead plaintiff in the litigation.

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Robinhood is a financial services company known for its groundbreaking commission-free trading of stocks, exchange-traded funds, and cryptocurrencies via a mobile app.

On or about July 30, 2021, Robinhood went public and offered 55 million shares of common stock to the public at a price of $ 38 per share (the “Offer Price”) for expected proceeds of over $ 2 billion.

According to the complaint, Robinhood’s registration statement and prospectus used to conduct the IPO contained representations that were essentially inaccurate, misleading and / or incomplete for failing to disclose that Robinhood’s sales growth was strong at the time of the IPO Experienced reversal, with transaction-based revenues from trading cryptocurrencies serving only as a short-term, temporary injection, masking actual stagnant growth. In addition, the company’s “substantial investments” in improving the reliability and scalability of its platform were manifestly inadequate and / or inadequate, exposing Robinhood to increasing service level disruptions and security breaches, particularly as the company expanded its services to a larger user base.

When these true facts became known after the offering, Robinhood’s shares fell sharply, trading as low as $ 17.08 per share, a decrease of over 55% from the offering price.

If you have bought or otherwise acquired Robinhood stock and have suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have questions about this release or your rights or interests in relation to these matters, please contact Brandon Walker or Alexandra Raymond via email at [email protected], phone at (212) 355-4648 or fill out this contact form. There are no costs or obligations for you.

About Bragar Eagle & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.

contacts

Bragar Eagle & Squire, PC

Brandon Walker, Esq.

Alexandra B. Raymond, Esq.

(212) 355-4648

[email protected]
www.bespc.com