NEW ORLEANS, Jan. 14, 2022 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until February 15, 2022 to file lead plaintiff applications in a securities class action lawsuit against Robinhood Markets Inc. (NasdaqGS: HOOD), if they purchased the Company’s shares issued in connection with its July 2021 initial public stock offering (the “IPO”). This action is pending in the United States District Court for the Northern District of California.
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Robinhood investors should visit us at https://claimsfiler.com/cases/nasdaq-hood/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Robinhood and certain of its executives are charged with failing to disclose material information in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’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; (ii) 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; (iii) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
The case is Golubowski v. Robinhood Markets, Inc., et al., 21-cv-9767.
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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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