Press release
Deadline on May 18th coming up in Lawsuit for Investors in Root, Inc. (NASDAQ: ROOT)
A Deadline is coming up on May 18, 2021in the lawsuit for certain investors in Root, Inc. (NASDAQ: ROOT).
Investors who purchased shares of Root, Inc. (NASDAQ: ROOT) have certain options and there are strict and short deadlines running. Deadline: May 18, 2021. NASDAQ: ROOT stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Southern District of Ohio the plaintiff alleges on behalf of purchasers of Root, Inc. (NASDAQ: ROOT) common shares between October 28, 2020 and March 8, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Offering Documents the were filed in connection with the IPO and the Defendants made false and/or misleading statements and/or failed to disclose that Root, Inc. would foreseeably fail to generate positive cash flow for at least several years following the IPO, that accordingly, the Company would foreseeably require significant cash infusions to meet its cash flow needs, that notwithstanding the Defendants' touting of Root's purportedly unique, data-driven advantages, several of the Company's established industry peers in fact possessed significant competitive advantages over Root with respect to, inter alia, telematics data and data engagement, and that as a result, the Offering Documents and Defendants' public statements between October 28, 2020 and March 8, 2021were materially false and/or misleading and failed to state information required to be stated therein.
Those who purchased shares of Root, Inc. (NASDAQ: ROOT) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.
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