NEW YORK, Jan. 27, 2022 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Robinhood Markets, Inc. ("Robinhood" or the "Company") (NASDAQ: HOOD) pursuant and/or traceable to the Company's initial public offering conducted in July 2021. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information go to:
https://www.zlk.com/pslra-1/robinhood-markets-inc-loss-submission-form?prid=22630&wire=4
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.There is no cost or obligation to you.
Robinhood Markets, Inc. NEWS - HOOD NEWS
CASE DETAILS: 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.
WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Robinhood, you have until February 15, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Robinhood securities pursuant and/or traceable to the Company's initial public offering, you may be entitled to compensation without payment of any out-of-pocket costs or fees.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/robinhood-markets-inc-loss-submission-form?prid=22630&wire=4 or call 212-363-7500 to discuss the case with Joseph E. Levi, Esq.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
