1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Marketwired
Marketwired
Articles 

Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Waitr Holdings, Inc.

November 05, 2019 | About:

LOS ANGELES, Nov. 05, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming November 26, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Waitr Holdings, Inc. (“Waitr” or the “Company”) ( WTRH) investors who purchased securities between May 17, 2018 and August 8, 2019, inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.

On August 8, 2019, after the market closed, the Company revealed that its Chief Executive Officer had resigned; that the integration of BiteSquad.com, LLC, which Waitr had acquired in January 2019, was not proceeding according to plan; and that the Company was laying off personnel.

On this news, the Company’s share price fell $1.87, or roughly 50% to close at $1.89 per share on August 9, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Defendants had artificially bolstered profits and revenues by unilaterally raising prices in breach of customer contracts and failed to properly reimburse drivers for expenses; (2) that providing services at the low take rate of 15% was not sustainable; (3) that its labor model was inefficient and resulted in rising, unsustainable costs; (4) that its financial statements were not true, accurate, or reliable; and (5) that the Company’s software provided little or no competitive advantages.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased or otherwise acquired Waitr securities during the Class Period, you may move the Court no later than November 26, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com

ti?nf=Nzc1MjIzNSMzMjA2NTI1IzIwMTcyOTE=

Rating: 0.0/5 (0 votes)

Comments

Please leave your comment:



Performances of the stocks mentioned by Marketwired


User Generated Screeners


pjmason14Momentum
pascal.van.garsseHigh FCF-M2
kosalmmuse6
kosalmmuseBest one1
DBrizanall 2019Feb26
kosalmmuseBest one
DBrizanall 2019Feb25
kosalmmuseNice
kosalmmusehan
MsDale*52-Week Low
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)