Investor Claims In IPO Suit Fail To Show That Offering Documents Were Misleading

Mealey's (February 14, 2023, 1:14 PM EST) -- SAN FRANCISCO — Investors in a class action against financial services company Robinhood Markets Inc., certain of its senior executives and directors and underwriters of the company’s initial public offering (IPO) have failed to sufficiently plead that the defendants issued any misrepresentations in the registration statement issued in connection with the IPO in pleading their federal securities law claim, a federal judge in California ruled in granting the defendants’ motion to dismiss....