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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Scott+Scott Attorneys at Law LLP Reminds Shareholders of its Investigation into Robinhood Markets Inc. (HOOD)

November 23, 2021 GMT

NEW YORK, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, reminds Robinhood Markets Inc. (“Robinhood” or the “Company”) (NASDAQ: HOOD) shareholders of its investigation into whether the Company and certain of its officers and directors violated federal securities laws. If you purchased or otherwise own Robinhood securities and have suffered a loss, you are encouraged to contact Jonathan Zimmerman at jzimmerman@scott-scott.com or (888) 398-9312 for more information.

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Robinhood Markets, Inc. operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies.

Robinhood commenced its initial public offering (“IPO”) on July 30, 2021, issuing 55 million shares to the investing public at $38 per share, anticipating proceeds in excess of $2 billion.

After the markets closed on October 26, 2021, Robinhood released its third quarter financial results, revealing revenue the fell short of Wall Street estimates. On this news, Robinhood shares plummeted, trading intraday on October 27, 2021 at over 9% below the Company’s $38 IPO offering price.

On November 8, 2021, after the markets closed, Robinhood then announced that the Company experienced a “data security incident,” resulting in an unauthorized third party obtaining various information of about 7 million customers. On this news, Robinhood shares sank over 7% in after-hours trading.           

What You Can Do

If you purchased or otherwise own Robinhood securities, have suffered a loss, and/or wish to discuss this investigation, please contact attorney Jonathan Zimmerman at (888) 398-9312, or at jzimmerman@scott-scott.com, or visit the Robinhood investigation page on our website at https://scott-scott.com/sec-investigation/robinhood-markets-inc.

About Scott+Scott Attorneys at Law LLP

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Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California, and Ohio.

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CONTACT:

Jonathan Zimmerman
Scott+Scott Attorneys at Law LLP
230 Park Ave, 17th Fl, New York, NY 10169
(888) 398-9312
jzimmerman@scott-scott.com