Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Grubhub Inc. (NYSE: GRUB) securities.
If you suffered a loss on your investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jul 30 2019 - Oct 28 2019
CASE DETAILS:
(i) customer orders were actually declining, despite the massive investments that the Company had made to spur demand for and use of its platform; (ii) Grubhub’s new customer additions were generating significantly lower revenues as compared to historic cohorts because these customers were more prone to using competitor platforms; (iii) Grubhub’s vaunted business model under which it secured exclusive partnerships had failed, and Grubhub needed to engage in the same aggressive nonpartnered sales tactics embraced by its competitors to generate significant revenue growth; (iv) Grubhub was required to spend substantial additional capital in order to grow revenues and retain market share in the face of heightened competitive dynamics and market saturation, eviscerating the Company’s profitability; and (v) Grubhub was tracking tens of millions of dollars below its revenue and earnings guidance and such guidance lacked any reasonable basis.
Tell us the stocks you own using SnapTrade, and we will keep you informed about class action litigation related to your stocks.
We monitor critical case developments that may affect the price of your shares and your possible monetary recovery.
SnapTrade only shares the tickers you own and your transaction history — not your account numbers. Using SnapTrade and participating in our monitoring service is free and does not create an attorney-client relationship or obligation on your part.
Don’t miss out on possible monetary recovery — link your brokerage account with SnapTrade.