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Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Grubhub Inc. (NYSE: GRUB) from July 30, 2019 through October 28, 2019 (the “Class Period”). The lawsuit seeks to recover damages for Grubhub Inc. investors under the federal securities laws.
If you bought Grubhub Inc. securities between July 30, 2019 through October 28, 2019, and would like to join the action, please click “Join This Class Action,” above.
SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against Grubhub Inc. – GRUB
New York, N.Y., November 21, 2019. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Grubhub Inc. (NYSE: GRUB) between July 30, 2019 and October 28, 2019, inclusive (the “Class Period”).
To join the GRUB class action, go to http://zhanginvestorlaw.com/cases/grubhub-inc/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU NEED NOT BE LEAD PLAINTIFF IN ORDER TO SECURE A RECOVERY.
According to the lawsuit, throughout the Class Period:(1) customer orders were actually declining, despite the massive investments the Company had made to spur demand for and use of its platform; (2) 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; (3) Grubhub’s vaunted business model under which it secured exclusive restaurant partnerships had failed, and Grubhub needed to engage in the same aggressive non-partnered sales tactics embraced by its competitors to generate significant revenue growth; (4) 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 (5) as a result, Grubhub’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 21, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/grubhub-inc/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at email@example.com.
Zhang Investor Law represents investors worldwide.