NEW YORK, NY / ACCESSWIRE / May 12, 2021 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can 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. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Root, Inc. (NASDAQ:ROOT)
Class Period: (1) between October 28, 2020 and March 8, 2021, both dates inclusive (the "Class Period"); and/or (2) 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 (the "IPO" or "Offering")
Deadline: May 18, 2021
For more info: www.bgandg.com/root
The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. The complaint continues to allege that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (1) Root would foreseeably fail to generate positive cash flow for at least several years following the IPO; (2) accordingly, the Company would foreseeably require significant cash infusions to meet its cash flow needs; (3) 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 (4) 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.
Vroom, Inc. (NASDAQ:VRM)
Class Period: June 9, 2020 - March 3, 2021
Deadline: May 21, 2021
For more info: www.bgandg.com/vrm
The complaint alleges that throughout the Class Period, Defandants made materially false and/or misleading statements and failed to disclose that: (1) Vroom had not demonstrated that it was able to control and scale growth in respect to its salesforce to meet the demand for its products; (2) as a result, the Company was forced to discount aged inventory to move through its retail channels or liquidated in its wholesale channels; (3) as a result, the ecommerce gross profit per unit was reasonably likely to decline; and (4) consequently, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Repro-Med Systems, Inc. (d/b/a KORU Medical Systems) (NASDAQ:KRMD)
Class Period: August 4, 2020 - January 25, 2021
Deadline: May 25, 2021
For more info: www.bgandg.com/krmd
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose that: (1) starting in January 2020, KORU ramped up the use of allowances, including growth rebates, to retain key customers and to incentivize growth; (2) as the rebates accrued, the Company's net sales were reasonably likely to decline; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC