San Diego, CA -- (SBWIRE) -- 11/17/2022 -- The Shareholders Foundation announced an update in the lawsuit that was filed for certain investors in shares of Robinhood Markets, Inc. (NASDAQ: HOOD).

Investors who purchased shares of Robinhood Markets, Inc. (NASDAQ: HOOD) have certain options and for certain investors are short and strict deadlines running. Deadline: February 15, 2022. NASDAQ: HOOD investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On December 17, 2021, a lawsuit was filed against Robinhood Markets, Inc over alleged violations of Federal Securities Laws in connection with Robinhood's July 2021 initial public offering (the "IPO" or the "Offering"). The plaintiff claimed 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.

In June 2022 an amended complaint was filed and in August the defendants filed their motion to dismiss the case.

Those who purchased shares of Robinhood Markets, Inc. (NASDAQ: HOOD) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.