NEW ORLEANS, May 13, 2022 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until May 16, 2022 to file lead plaintiff applications in securities class action lawsuits against Grab Holdings Limited (NasdaqGS: GRAB, GRABW), if they purchased the Company's securities between August 2, 2021 and March 3, 2022, inclusive (the "Class Period"). These actions are pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Grab and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-grab/ to learn more. If you wish to serve as a lead plaintiff in these class actions by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by May 16, 2022.
About the Lawsuit
Grab and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 3, 2022, the Company announced its 4Q2021 results, disclosing "a 44% decline YoY" in revenue and a $1.1 billion loss for the quarter due to "invest[ing] heavily" in driver incentives and that it would take one or two quarters "to get that equilibrium between drivers and riders, between supply and demand."
On this news, shares of Grab fell $2.04, or 37.3%, to close at $3.28 per share on March 3, 2022, on unusually heavy trading volume.
The first-filed case is Peccarino v. Grab Holdings Limited, et al., No. 22-cv-2189.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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