Loss of money in Grab Holdings? – Monthly Lawyer
Gibbs Law Group investigates potential violations of securities law
OAKLAND, Calif.–(BUSINESS WIRE)–$GRAB #TO INPUT–Gibbs Law Group is investigating a potential Grab Holdings Class Action on behalf of investors who lost money in Grab Holdings (NASDAQ: GRAB). Shares of Grab Holdings fell more than 37% on Thursday, March 3, 2022, after shocking news broke that the company’s revenue fell 44% in its fourth quarter. Investors who have lost money in Grab Holdings are encouraged to contact Gibbs Law Group for further information on their legal rights.
To speak to a lawyer regarding this class action investigation, Click here or call (888) 410-2925.
According to its quarterly report, Grab Holdings said it has invested heavily in strengthening incentives to bring in drivers as demand for ridesharing has increased due to the steadily diminishing threat of the pandemic in recent months. However, despite Grab’s sunny forecast after the company’s December 2021 debut, revenue fell 44% to $122 million in the fourth quarter, widening their loss to $1.1 billion – significantly more than its loss. of $635 million a year earlier.
According to a CNBC article, GRAB funneled a significant amount of money into incentives to maintain its position as market leader and to bring in drivers to “[catch] increasing in terms of supply. However, as more people started dining out as the threat of COVID waned, demand for food delivery services plummeted and Grab’s delivery unit revenue plummeted 98%. Revenue from its mobility unit, which accounted for 85% of overall sales, fell 27% in their fourth quarter alone.
Grab Holdings went public in December 2021 through a SPAC merger with Altimeter Growth Corp (NASDAQ:AGC). SPACs offer an alternative to the traditional IPO process and have the primary purpose of raising funds from investors to eventually acquire a private company. Investors typically buy a SPAC before it announces, or even decides, which private company it will attempt to acquire. Although SPAC investors have the potential to make significant gains, they are also much more vulnerable to market volatility and other types of fraud.
Following the release of their fourth quarter results, shares of Grab Holdings fell more than 37% in intraday trading on Thursday, March 3, 2022, causing significant damage to investors.
What must Are investors getting it?
If you have invested in Grab Holdings, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you might recoup your losses. Our investigation focuses on whether Grab Holdings violated federal securities laws.
About Gibbs Law Group
Gibbs Law Group represents individual and institutional investors nationwide in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duties and breaches of powers of attorney. The firm has recovered over $1 billion for its clients against some of the largest corporations in the world, and our attorneys have received numerous accolades for their work, including “Best Lawyers in America”, “Best Plaintiffs Lawyers in California “, “California Lawyer Attorney of the Year”, “Best Class Action Lawyers Under 40”, “Consumer Protection MVP” and “Best Cybersecurity/Privacy Lawyers Under 40”.
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