The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Grab Holdings Limited (NASDAQ: GRAB) who purchased shares between August 2, 2021 and March 3, 2022. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Grab Holdings lawsuit alleges that (1) Grab’s driver supply declined during the third quarter; (2) as a result, Grab continued to invest heavily in driver and consumer incentives to “preemptively recalibrate driver supply”; (3) as a result, the Company’s financial results would be adversely impacted, including, among other things, a significant decline in revenue; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until May 16, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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