SAN DIEGO, March 26, 2022 (GLOBE NEWSWIRE) — The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Grab Holdings Limited GRAB GRABW))) securities between November 12, 2021 and March 3, 2022, both dates inclusive (the “Class Period”) have until May 16, 2022 to seek appointment as lead plaintiff in Peccarino v. Grab Holdings Limited, No. 22-cv-02189. Commenced on March 16, 2022 in the Southern District of New York, the Grab class action lawsuit charges Grab and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered significant losses and wish to serve as lead plaintiff of the Grab class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the Grab class action lawsuit must be filed with the court no later than May 16, 2022.
CASE ALLEGATIONS: Grab offers a superapp that operates primarily across the deliveries, mobility, and digital financial services sectors in Southeast Asia. On December 1, 2021, Grab became a public entity via a business combination with Altimeter Growth Corp., a special purpose acquisition company (also known as a “SPAC” or blank-check company).
The Grab class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Grab’s driver supply declined during the third quarter; (ii) as a result, Grab continued to invest heavily in driver and consumer incentives to preemptively recalibrate driver supply; (iii) thus, Grab’s financial results would be adversely impacted, including, among other things, a significant decline in revenue; and (iv) consequently, defendants’ positive statements about Grab’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On March 3, 2022, Grab…
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