CLASS ACTION UPDATE for ROOT, VRM and EBON: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / April 20, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
ROOT Shareholders Click Here: https://www.zlk.com/pslra-1/root-inc-information-request-form?prid=14916&wire=1
VRM Shareholders Click Here: https://www.zlk.com/pslra-1/vroom-inc-loss-submission-form?prid=14916&wire=1
EBON Shareholders Click Here: https://www.zlk.com/pslra-1/ebang-international-holdings-loss-submission-form?prid=14916&wire=1
* ADDITIONAL INFORMATION BELOW *
Root, Inc (NASDAQ:ROOT)
This lawsuit is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Root Class A common stock pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about October 28, 2020.
Lead Plaintiff Deadline : May 18, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/root-inc-information-request-form?prid=14916&wire=1
According to the filed complaint, (i) Root would foreseeably fail to generate positive cash flow for at least several years following the IPO; (ii) accordingly, the Company would foreseeably require significant cash infusions to meet its cash flow needs; (iii) 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 (iv) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.
Vroom, Inc. (NASDAQ:VRM)
VRM Lawsuit on behalf of: investors who purchased June 9, 2020 - March 3, 2021
Lead Plaintiff Deadline : May 21, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/vroom-inc-loss-submission-form?prid=14916&wire=1
According to the filed complaint, during the class period, Vroom, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Vroom had not demonstrated that it was able to control and scale growth in respect to its salesforce to meet the demand for its products; (2) as a result, the Company was forced to discount aged inventory to move through its retail channels or liquidated in its wholesale channels; (3) as a result, the ecommerce gross profit per unit was reasonably likely to decline; and (4) 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.
Ebang International Holdings Inc. (NASDAQ:EBON)
EBON Lawsuit on behalf of: investors who purchased June 26, 2020 - April 5, 2021
Lead Plaintiff Deadline : June 7, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/ebang-international-holdings-loss-submission-form?prid=14916&wire=1
According to the filed complaint, during the class period, Ebang International Holdings Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the proceeds from Ebang's public offerings had been directed to an low yield, long term bonds to an underwriter and to related parties rather than used to develop the Company's operations; (2) Ebang's sales were declining and the Company had inflated reported sales, including through the sale of defective units; (3) Ebang's attempts to go public in Hong Kong had failed due to allegations of embezzling investor funds and inflated sales figures; (4) Ebang's purported crytocurrency exchange was merely the purchase of an out-of-the-box crypto exchange; and (5) 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.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP
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https://www.accesswire.com/641398/CLASS-ACTION-UPDATE-for-ROOT-VRM-and-EBON-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders
