NEW ORLEANS, May 11, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 16, 2022 to file lead plaintiff applications in a securities class action lawsuit against Grab Holdings Limited (NasdaqGS: GRAB, GRABW), if they purchased the Company’s securities between August 2, 2021 and March 3, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
Grab investors should visit us at https://claimsfiler.com/cases/nasdaq-grab/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Grab and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 3, 2022, the Company announced its 4Q2021 results, disclosing “a 44% decline YoY” in revenue and a $1.1 billion loss for the quarter due to “invest[ing] heavily” in driver incentives and that it would take one or two quarters “to get that equilibrium between drivers and riders, between supply and demand.”
On this news, shares of Grab fell $2.04, or 37.3%, to close at $3.28 per share on March 3, 2022, on unusually heavy trading volume.
The case is Peccarino v. Grab Holdings Limited, et al., No. 22-cv-2189.
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