NEW YORK, Feb. 2, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Robinhood Markets, Inc. ("Robinhood" or the "Company") (NASDAQ: HOOD) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Robinhood investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Robinhood shares pursuant and/or traceable to the Company's initial public offering conducted in July 2021. Follow the link below to get more information and be contacted by a member of our team:
https://www.zlk.com/pslra-1/robinhood-markets-inc-loss-submission-form?prid=22841&wire=4
HOOD investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
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 Robi ..
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