ROBINHOOD SHAREHOLDER ALERT: CLAIMSFILER Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Robinhood Markets Inc.
NEW ORLEANS, January 12, 2022 /PRNewswire/ — ClaimsFiler, a FREE shareholder information service, is reminding investors there is still time February 15, 2022 Lead plaintiff motions in a securities class action lawsuit against Robinhood Markets Inc. (NasdaqGS: HOOD) if they have purchased the Company’s stock issued in connection therewith July 2021 Initial Public Offering (the “IPO”). This action is pending in The United States District Court for the Northern District California.
Robinhood investors should visit us at https://claimsfiler.com/cases/nasdaq-hood/ or call toll-free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.
About the lawsuit
Robinhood and certain of its executives are accused of failing to disclose material information in the registration statement and prospectus issued in connection with the IPO in violation of federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’s revenue growth experienced a major reversal, with transaction-based cryptocurrency trading revenue serving only as a short-term, temporary injection, masking its, what was actually stagnant growth; (ii) the Company’s “significant investments” in improving the reliability and scalability of its platform were manifestly inadequate and/or flawed, exposing Robinhood to increasing service level disruptions and security breaches; (iii) as a result of the foregoing, the Company’s statements have been materially incorrect and misleading at all relevant times.
The case is Golubowski v. Robinhood Markets, Inc., et al., 21-cv-9767.
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