NEW YORK–(BUSINESS WIRE)–WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation into potential securities claims on behalf of shareholders of Grab Holdings Limited f/k/a Altimeter Growth Corp. (NASDAQ: GRAB, GRABW) resulting from allegations that Grab Holdings may have provided misleading business information to the investing public.
SO WHAT: If you have purchased securities of Grab Holdings, you may be entitled to compensation without payment of out-of-pocket fees or costs through a contingent fee arrangement. The Rosen law firm is preparing a class action lawsuit to recover investors’ losses.
WHAT TO DO NEXT: To join the potential class action, go to https://rosenlegal.com/submit-form/?case_id=3876 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information.
WHAT DOES IT TALK ABOUT: In December 2021, Grab Holdings went public through a merger with a special purpose acquisition company, SPAC or blank check company, called Altimeter Growth Corp., with a focus on growing the company in the areas of food delivery, digital payments, ridesharing and financial services. thanks to its “great application”. The company highlighted its huge opportunity to expand further into the company’s core businesses in Southeast Asia and other regions.
Then, on March 3, 2022, the sustainability of Grab Holdings’ growth was called into question when Grab Holdings announced its first quarterly earnings report as a public company for its fourth quarter of 2021 (ended December 31, 2021). The company reported a 44% drop in revenue in the fourth quarter from the fourth quarter a year earlier and a $3.6 billion loss for fiscal 2021. Management charged the results to the fact that the company needed to increase its spending to offer higher commissions to attract drivers and greater incentives to users and partners. On this news, Grab Holdings’ stock price fell $1.95 per share, or 37%, to close at $3.28 per share on March 3, 2022.
WHY THE ROSEN LAW: We encourage investors to select qualified lawyers with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these companies do not bring securities class action lawsuits. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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