Boston, Massachusetts--(Newsfile Corp. - December 29, 2021) - The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of Robinhood Markets, Inc. (NASDAQ: HOOD). The case is currently in the lead plaintiff stage. Investors who purchased Robinhood's common stock pursuant or traceable to the Company's July 2021 initial public offering may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/Robinhood-Markets for more information. Investors may also email investors@tenlaw.com or call 617-531-3917.
FOR MORE INFORMATION: www.tenlaw.com/cases/Robinhood-Markets
The case alleges that the Offering Documents were false and misleading and omitted to state at the time of the Offering that: (i) Robinhood's revenue growth was, in fact, experiencing a major reversal, with transaction-based revenues from cryptocurrency trading serving only as a short-term, transitory injection, effectively masking what was stagnating growth; and (ii) Robinhood's "significant investments designed to enhance the reliability and scalability of [its] platform" were patently inadequate or defective, which exposed the Company's platform to worsening service-level disruptions and security breaches, particularly as Robinhood scaled its services to a larger user base.
Interested Robinhood investors have until February 15, 2022 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.
FOR MORE INFORMATION: www.tenlaw.com/cases/Robinhood-Markets
Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
CONTACT:
Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/Robinhood-Markets
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108599
