An investigation on behalf of current long term investors in Robinhood Markets, Inc. (NASDAQ: HOOD) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 05/11/2022 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Robinhood Markets, Inc.
Investors who are current long term investors in Robinhood Markets, Inc. (NASDAQ: HOOD) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: HOOD stocks follows a lawsuit filed against Robinhood Markets, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: HOOD stocks, concerns whether certain Robinhood Markets, Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that Robinhood's registration statement and 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.
Those who purchased shares of Robinhood Markets, Inc. (NASDAQ: HOOD) have certain options and should contact the Shareholders Foundation.
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