SAN DIEGO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Robinhood Markets, Inc. ("Robinhood" or "the Company") (NASDAQ: HOOD). The class action is on behalf of shareholders who purchased Robinhood securities pursuant and/or traceable to the Company's initial public offering conducted in July 2021. To serve as lead plaintiff in this class action, you must move the Court no later than February 15, 2022.
What actions may I take at this time? If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number. Additionally, you can:
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/RobinhoodMarketsInc or [Click here to join this action]. There is no cost or obligation to you.
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.
A lead plaintiff will act on behalf of all other class members in directing the Robinhood class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the Robinhood class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/RobinhoodMarketsInc or [Click here to join this action]. There is no cost or obligation to you.
