SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Root, Inc of a Class Action Lawsuit and a Lead Plaintiff Deadline of May 18, 2021 - ROOT
New York, New York--(Newsfile Corp. - May 14, 2021) - To: All persons or entities who purchased or otherwise acquired securities of Root, Inc ("Root") (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.. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of Ohio. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500. There is no cost or obligation to you.
Root, Inc NEWS - ROOT NEWS
CASE DETAILS: The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (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.
WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Root you have until May 18, 2021 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.
NO COST TO YOU: If you purchased Root securities during the Class Period date OF 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., you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
HOW TO JOIN THE CLASS ACTION: Complete this brief submission form https://www.zlk.com/pslra-1/root-inc-information-request-form?prid=15875&wire=5 or call 212-363-7500 to speak to Joseph E. Levi, Esq. to discuss this case.
WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars for shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by Corporations.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The Firm's Founding Partners, Joseph Levi and Eduard Korsinsky have been representing shareholders and institutional clients for almost 20 years and have achieved remarkable results for clients in the U.S. and internationally. The firm, with more than 90 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those that we represent. Our attorneys have extensive expertise representing investors in securities litigation with a track record of recovering hundreds of millions of dollars in cases. Levi & Korsinsky was ranked in Institutional Shareholder Services' ("ISS") SCAS Top 50 Report for 7 years in a row as a top securities litigation firm in the United States. The SCAS Top 50 Report identifies the top plaintiffs' securities law firms in the country, and year after year, ISS has recognized Levi & Korsinsky as a leading firm in the area of securities class action litigation.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84130