LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Robinhood Markets, Inc. (“Robinhood” or “the Company”) (NASDAQ: HOOD) for violations of the federal securities laws.
Investors who purchased the Company’s shares pursuant and/or traceable to the Company’s initial public offering conducted in July 2021 (the “IPO”), are encouraged to contact the firm before February 15, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Robinhood suffered from major issues with revenue growth at the time of the IPO, with its touted transaction-based revenues from cryptocurrency trading only providing a temporary boost to otherwise flat growth. The Company’s supposed “significant investments” in reliability and infrastructure growth were subpar, creating the opportunity for service disruptions and cybersecurity failures. Based on these facts, the Company’s public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Robinhood, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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