Waitr Holdings, Inc.
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Zhang Investor Law announces a securities class action lawsuit on behalf of shareholders who bought shares of Waitr Holdings, Inc. (NASDAQ: WTRH) from May 17, 2019 through August 8, 2019 (the “Class Period”). The lawsuit seeks to recover damages for Waitr Holdings, Inc. investors under the federal securities laws.
If you bought Waitr Holdings, Inc. securities between May 17, 2019 through August 8, 2019, and would like to join the action, please click “Join This Class Action,” above.
SHAREHOLDER ALERT: Zhang Investor Law Announces the Filing of a Securities Class Action Lawsuit Against Waitr Holdings, Inc.– WTRH
New York, N.Y., October 20, 2019. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Waitr Holdings, Inc. (NASDAQ:WTRH) between May 17, 2019 and August 8, 2019, inclusive (the “Class Period”).
To join the WTRH class action, go to http://zhanginvestorlaw.com/cases/waitr-holdings-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.
According to the lawsuit, throughout the Class Period: (1) the Company was not on the verge of profitability; (2) it was not true that the Company was providing its services at a sustainable low take rate established at 15%; (3) it was not true that Waitr was able to extract efficiencies from its full time fixed-rate labor force that was purported to allow the Company to offer its services at a lower rate than competitors; (4) its software provided little or no competitive advantages and what first-mover advantage the Company claimed existed, was quickly squandered by the inability to obtain sophisticated high-level programmers and software engineers who could enable Waitr to refine and develop the software necessary to stay competitive in its market; (5) it was not true that Waitr maintained an adequate system of internal controls so as to report and eliminate material conflicts of interest; and (6) as a result, Waitr’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 November 26, 2019. 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/waitr-holdings-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.