On March 12, 2024, Judge Jennifer L. Rochon denied the motion to dismiss in part in the In re Grab Holdings Limited securities class action, sustaining co-lead plaintiffs’ §§ 11, 14(a), and 15 claims with respect to several alleged false and misleading statements in the proxy/registration statement through which Grab went public in a merger with SPAC Altimeter Growth Corp. The case alleges that the proxy/registration statement misled investors about Grab’s use of driver and consumer incentives, which unbeknownst to investors, negatively impacted the Company’s financial and business prospects.
Levi & Korsinsky, LLP is co-lead counsel representing co-lead plaintiff SLG Cloudbank Holdings, LLC and the class. A copy of the order can be viewed here.