Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed against Robinhood Markets, Inc. in the United States District Court for the Northern District of California

NEW YORK, December 31, 2021 / PRNewswire / – Wolf Haldenstein Adler Freeman & Herz LLP announces that a state securities class action lawsuit has been filed in The United States District Court for the Northern District of California on behalf of investors who have purchased or otherwise acquired common stock of Robinhood Markets, Inc. (“Robinhood” or the “Company”) (NASDAQ: HOOD) in accordance with and / or traceable to the registration statement made in connection with the July 2021 Initial Public Offering (the “IPO” or “Offering”).

All investors who have acquired Robinhood Markets, Inc. stock and have suffered losses are urged to contact immediately [email protected] or (800) 575-0735 or (212) 545-4774. You can find out more about the promotion or join the case on our website www.whafh.com.

If you have incurred a loss at Robinhood Markets, Inc. you can by no later than February 15, 2022, request that the court appoint you as the lead plaintiff of the proposed group. Please contact Wolf Haldenstein to learn more about your rights as an investor in Robinhood Markets, Inc.

PLEASE CLICK HERE TO JOIN CASE

Up or over July 30, 2021, Robinhood went public and offered the public 55 million shares of common stock at a price of. on $ 38 per share.

on October 26, 2021After markets closed, Robinhood released its third quarter financial results, revealing that total net sales were nearly off analyst estimates $ 73 million. The company also announced that it had generated transaction-based revenue from trading cryptocurrencies $ 233 million in the second quarter before going public $ 51 million in the third quarter.

On the news, Robinhood’s stock fell $ 4.14, or 10% to close around $ 35.44 per share October 27, 2021thereby harming investors.

Then, on November 8, 2021After the markets closed, Robinhood announced that there was a “data security incident” on November 3, 2021, in which an unauthorized third party gained access to the email addresses of around five million users and the full names of around two million users – almost 40% of Robinhood’s users.

On the news, Robinhood’s stock fell $ 3.49, or 9%, over the next two consecutive trading days until the end $ 34.49 per share November 10, 2021further harming investors.

Wolf Haldenstein has extensive experience prosecuting securities class actions and derivatives disputes in state and federal courts and appeals courts across the country. The firm has lawyers in various fields of activity; and offices in new York, Chicago and San Diego. This firm’s reputation and expertise in shareholder and other class action lawsuits have been recognized repeatedly by the courts who have appointed them to key positions in complex multi-district securities disputes and consolidated litigation.

If you would like to discuss this measure or have questions about your rights and interests in this case, please contact us immediately Wolf Haldenstein by phone at (800) 575-0735, by email at [email protected], or visit our website at www.whafh.com.

Contact:
Wolf Haldenstein Adler Freeman & Heart LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
E-mail: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

This news release may be viewed as a solicitation in some jurisdictions subject to applicable laws and ethical rules.

SOURCE Wolf Haldenstein Adler Freeman & Heart LLP

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