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

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Robinhood, Reata, Desktop Metal, and Chegg and Encourages Investors to Contact the Firm

January 5, 2022 GMT

NEW YORK, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Robinhood Markets, Inc. (NASDAQ: HOOD), Reata Pharmaceuticals, Inc. (NASDAQ: RETA), Desktop Metal, Inc. (NYSE: DM), and Chegg, Inc. (NYSE: CHGG). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Robinhood Markets, Inc. (NASDAQ: HOOD)

Class Period: July 30, 2021 IPO

Lead Plaintiff Deadline: February 15, 2022

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.

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For more information on the Robinhood class action go to: https://bespc.com/cases/HOOD  

Reata Pharmaceuticals, Inc. (NASDAQ: RETA)

Class Period: November 9, 2020 – December 8, 2021

Lead Plaintiff Deadline: February 18, 2022

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the FDA had raised concerns regarding the validity of the clinical study designed to measure the efficacy and safety of bardoxolone for the treatment of chronic kidney disease caused by Alport syndrome; (2) that, as a result, there was a material risk that Reata’s NDA would not be approved; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

For more information on the Reata class action go to: https://bespc.com/cases/RETA  

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Desktop Metal, Inc. (NYSE: DM)

Class Period: March 15, 2021 – November 15, 2021

Lead Plaintiff Deadline: February 21, 2022

According to the complaint, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects throughout the class period. Specifically, Defendants failed to disclose to investors: (1) that there were deficiencies in EnvisionTEC’s manufacturing and product compliance practices and procedures; (2) that the foregoing deficiencies presented a material risk to the commercialization of EnvisionTEC’s products; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

For more information on the Desktop Metal class action go to: https://bespc.com/cases/DM  

Chegg, Inc. (NYSE: CHGG)

Class Period: May 5, 2020 – November 1, 2021

Lead Plaintiff Deadline: February 21, 2022

The complaint charges Chegg, its Chief Executive Officer and Chief Financial Officer, and others with violations of the Securities Exchange Act of 1934. According to the complaint, the defendants made materially false and misleading statements and failed to disclose known adverse facts about Chegg’s business, operations, and prospects, including that: (i) Chegg’s increase in subscribers, growth, and revenue had been a temporary effect of the COVID-19 pandemic that resulted in remote education for the vast majority of United States students and once the pandemic-related restrictions eased and students returned to campuses nationwide, Chegg’s extraordinary growth trends would end; (ii) Chegg’s subscriber and revenue growth were largely due to the facilitation of remote education cheating an unstable business proposition rather than the strength of its business model or the acumen of its senior executives and directors; and (iii) as a result, the Company’s current business metrics and financial prospects were not as strong as it had led the market to believe during the Class Period.

For more information on the Chegg class action go to: https://bespc.com/cases/CHGG  

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com