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Supreme Court to hear Robinhood bid to toss IPO omissions suit
CNBC reports the Supreme Court agreed Friday to consider Robinhood's bid to block an investor lawsuit over omitted interim financial data in its 2021 IPO.
- Reuters is now reporting this
- New headline Was: “Supreme Court will hear Robinhood effort to toss IPO info omissions lawsuit”
- Our desk filed its story
The U.S. Supreme Court on Friday agreed to consider Robinhood's effort to block a lawsuit over the company's omission of interim financial data from its 2021 initial public offering, CNBC reported1.
Robinhood wants the justices to overturn a ruling by the 9th Circuit U.S. Court of Appeals that had revived an investors' lawsuit against the company in connection with the IPO, according to CNBC1.
A San Francisco federal court judge had previously dismissed the lawsuit, CNBC said1.
The CNBC report did not say when the Court will hear argument, how it will rule, or whether the investors' claims would succeed if the case returns to a trial court1.
