Los Angeles, CA - 
(NewMediaWire) - May 12, 2021 - The Schall
Law Firm, a national shareholder rights
litigation firm, reminds investors of a class action lawsuit against Root, Inc.
(“Root” or “the Company”) (NASDAQ: ROOT) for violations of the
federal securities laws.
Investors who purchased the
Company's shares pursuant and/or traceable to the Company’s October 28, 2020
initial public offering (the "IPO"), or between October 28, 2020 and
March 8, 2021 both dates inclusive (the "Class Period"), are
encouraged to contact the firm before May 18,
2021.
If you are a shareholder who
suffered a loss, click here to participate.
We also encourage you to
contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite
2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of
charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has
not yet been certified, and until certification occurs, you are not represented
by an attorney. If you choose to take no action, you can remain an absent class
member.
According to the Complaint, the
Company made false and misleading statements to the market. Root was likely to
fail to generate positive cash flow for years following its IPO. As a result,
the Company was likely to require injections of cash to fund its operations.
The Company touted its data-driven advantages in the marketplace, but its
established industry competitors had already developed superior technology that
resulted in a competitive advantage over the Company. Based on these facts, the
Company’s Offering documents and public statements during the IPO and class
period were false and materially misleading. When the market learned the truth
about Root, investors suffered damages.
Join the case to
recover your losses.
The Schall Law Firm represents
investors around the world and specializes in securities class action lawsuits
and shareholder rights litigation.
This press release may be
considered Attorney Advertising in some jurisdictions under the applicable law
and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
SOURCE:
The Schall Law Firm
