(HOOD Alert) Long Term Holders of Robinhood Contact Johnson Fistel for Information Regarding Investigation
News provided byJohnson Fistel, LLP
May 08, 2022, 8:38 AM ET
SAN DIEGO, May 08, 2022 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP is investigating potential breaches of fiduciary duty/or violations of federal and/or state law on behalf of Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) against certain of its officers and directors.
Last year a class action suit was filed against Robinhood. According to the complaint, Robinhood’s registration statement and the prospectus used to effectuate 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.
If you are a current, long-term shareholder of Robinhood you may have standing to hold Robinhood harmless from the alleged harm caused by the Company's officers and directors by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
To join this action, you can click or copy and paste the link below: https://www.cognitoforms.com/JohnsonFistel/RobinhoodMarketsInc2
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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.
Johnson Fistel, LLP
Jim Baker, 619-814-4471