Class Action Reports

ROOT Class Action: Learn About the Root Lawsuit

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March 25, 2021

Levi & Korsinsky, LLP announces that a ROOT class action lawsuit has been filed on behalf of investors who purchased Root, Inc (ROOT) securities between October 28, 2020 and March 8, 2021. For more on the ROOT Lawsuit please contact us today.

 

According to the Root lawsuit, throughout the Class Period defendants made 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.

 

TO LEARN MORE ABOUT THE ROOT CLASS ACTION LAWSUIT, CLICK HERE

 

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.

 

 

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