The Gross Law Firm Announces Class Actions on Behalf of Shareholders of CYDY, ROOT and RMO

·4 min read

NEW YORK, NY / ACCESSWIRE / May 14, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

CytoDyn Inc. (OTCQB:CYDY)

Investors Affected : March 27, 2020 - March 9, 2021

A class action has commenced on behalf of certain shareholders in CytoDyn Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: CytoDyn securities were actively traded over the counter (OTC) in the United States. While the exact number of Class members is unknown to Plaintiff at this time and can be ascertained only through appropriate discovery, Plaintiff believes that there are hundreds or thousands of members in the proposed Class. Record owners and other members of the Class may be identified from records maintained by CytoDyn or its transfer agent and/or OTC Markets and may be notified of the pendency of this action by mail, using the form of notice similar to that customarily used in securities class actions.

Shareholders may find more information at https://securitiesclasslaw.com/securities/cytodyn-inc-loss-submission-form/?id=15858&from=1

Root, Inc (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.

A class action has commenced on behalf of certain shareholders in Root, Inc. The filed complaint alleges that defendants made 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.

Shareholders may find more information at https://securitiesclasslaw.com/securities/root-inc-loss-submission-form/?id=15858&from=1

Romeo Power, Inc. (NYSE:RMO)

Investors Affected : October 5, 2020 - March 30, 2021

A class action has commenced on behalf of certain shareholders in Romeo Power, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Romeo had only two battery cell suppliers, not four, (ii) the future potential risks that Defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo's business, operations and business prospects, (iii) Romeo did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021, (iv) Romeo's supply constraint was a material hindrance to Romeo's revenue growth, and (v) Romeo's supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory. Given the supply constraint that Romeo was experiencing during the Class Period, Defendants had no reasonable basis to represent that the Company had the ability to meet customer demand and that it would support growth in revenue in 2021.

Shareholders may find more information at https://securitiesclasslaw.com/securities/romeo-power-inc-loss-submission-form/?id=15858&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



View source version on accesswire.com:
https://www.accesswire.com/647401/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-CYDY-ROOT-and-RMO

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting