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SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Robinhood Markets, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of February 15, 2022 - (HOOD)
News provided byThe Gross Law Firm
Jan 26, 2022, 7:10 PM ET
NEW YORK, Jan. 26, 2022 /PRNewswire/ -- The Gross Law Firm, securities class action litigators, issues the following notice to shareholders of Robinhood Markets, Inc.:
Shareholders who purchased or otherwise acquired HOOD shares pursuant and/or traceable to the company's initial public offering conducted in July 2021 are encouraged to contact the firm regarding possible appointment as lead plaintiff. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
ALLEGATIONS: According to the filed complaint, documents that the Company issued in connection with its IPO contained representations that were materially inaccurate, misleading, and/or incomplete because they failed to disclose that, at the time of the IPO, Robinhood's revenue growth was experiencing a major reversal, with transaction-based revenues from cryptocurrency trading serving only as a short-term, transitory injection, masking what was actually stagnating growth. In addition, the Company's "significant investments" in enhancing the reliability and scalability of its platform were patently inadequate and/or defective, exposing Robinhood to worsening service-level disruptions and security breaches, particularly as the Company scaled its services to a larger user base.
DEADLINE FEBRUARY 15, 2022: Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/robinhood-markets-inc-loss-submission-form/?id=22509&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of HOOD during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm's mission is to protect the rights of all investors who have suffered as the result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. Our team puts in the work to get the maximum recovery on behalf of investors. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (646) 453-8903
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SOURCE The Gross Law Firm