NEW ORLEANS, Dec. 18, 2021 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind 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.
What You May Do
If you purchased shares of Robinhood and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-hood/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 15, 2022.
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. ON24, Inc., et al., 21-cv-9767.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC