Hagens Berman, National Prosecutors, investigating Grab Holdings Limited (GRAB) for possible violations of securities law, investors suffering significant losses are encouraged to contact the firm
SAN FRANCISCO, March 4, 2022 /PRNewswire/ — Hagens Berman urges investors in Grab Holdings Limited (NASDAQ: GRAB) who have suffered significant losses to submit your losses now. The company is investigating possible violations of securities laws.
To visit: www.hbsslaw.com/investor-fraud/GRAB
Contact a lawyer now: [email protected]
Grab Holdings Limited (NASDAQ: GRAB) Investigation:
The survey focuses on Grab’s statements regarding the sustainability of its growth and business prospects.
More specifically, in Dec. 2021, Grab went public through a SPAC merger, highlighting the company’s dramatic growth in food delivery, digital payments, ride-sharing and financial services through its “super app.” The company has highlighted its huge opportunity to expand further into the core businesses of the business by South East Asia and other regions.
But on March 3, 2022, the sustainability of Grab’s growth was called into question when Grab announced its first quarterly earnings report as a public company. The results were dismal. The company reported a 44% drop in revenue in the fourth quarter compared to the year-ago quarter, and a huge loss for fiscal 2021 of $3.6 billion. Management blamed the results on the company needing to increase spending to offer higher commissions to attract drivers and greater incentives to users and partners.
This news caused the price of Grab shares to fall sharply.
“We are focused on investor losses and whether Grab has embellished its growth outlook and not disclosed known trends,” said Reed KathreinHagens Berman’s associate leading the investigation.
If you have invested in Grab and have significant losses, or have knowledge that can help the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: People with nonpublic information about Grab should consider their options to help with the investigation or take advantage of the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30% of any successful recovery made by the SEC. For more information contact Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global complex plaintiffs’ rights litigation law firm, focusing on corporate liability through class action law. The firm is home to a strong securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases that achieve real results for those harmed by negligence and fraud. of business. To learn more about the company and its successes, visit hbsslaw.com. Follow the company for updates and news on @ClassActionLaw.
SOURCE Hagens Berman Sobol Shapiro LLP