GlobeNewswire Inc | Jan 17, 2022 09:02PM EST

January 18, 2022

NEW ORLEANS, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (KSF) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 15, 2022 to file lead plaintiff applications in a securities class action lawsuit against Robinhood Markets Inc. (NasdaqGS: HOOD), if they purchased the Companys shares issued in connection with its July 2021 initial public stock offering (the IPO). This action is pending in the United States District Court for the Northern District of California.

What You May Do

If you purchased shares of Robinhood and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-hood/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 15, 2022.

About the Lawsuit

Robinhood and certain of its executives are charged with failing to disclose material information in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Companys 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; (ii) the Companys 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; (iii) as a result of the foregoing, the Companys statements were materially false and misleading at all relevant times.

The case is Golubowski v. Robinhood Markets, Inc., et al., 21-cv-9767.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nations premier boutique securities litigation law firms. KSF serves a variety of clients including public institutional investors, hedge funds, money managers and retail investors in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:Kahn Swick & Foti, LLCLewis Kahn, Managing Partnerlewis.kahn@ksfcounsel.com1-877-515-18501100 Poydras St., Suite 3200New Orleans, LA 70163