Recent Security Class Actions

Robinhood Markets Inc. Class A Common Stock (NASDAQ: HOOD)

Company Name:Robinhood Markets Inc. Class A Common Stock
Stock Symbol:NASDAQ: HOOD
Class Period Start:07/30/2021
Class Period End (inclusive):12/17/2021

According to the complaint, 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.