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SAN DIEGO, May 19, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Root, Inc. (NASDAQ: ROOT) shares.
Investors, who purchased shares of Root, Inc. (NASDAQ: ROOT), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On March 19, 2021, a lawsuit was filed against Root, Inc. over alleged violations of securities laws. The plaintiff alleged that t the Offering Documents the were filed in connection with the initial public offering ("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 Root, Inc. (NASDAQ: ROOT) shares should contact the Shareholders Foundation, Inc.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.