PHILADELPHIA, April 16, 2022 (GLOBE NEWSWIRE) — Investor protection law firm Kaskela Law LLC announces that a class action lawsuit has been filed against Grab Holdings Limited (“Grab Holdings”) (NASDAQ:GRAB) on behalf of investors who have purchased shares of the company’s securities between November 12, 2021 and March 3, 2022inclusive (the “Class Period”).
Seize Holdings Investors With Financial Losses Over $100,000 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected]) or online at https://kaskelalaw.com/cases/grab-holdings-limited/for more information about this action and their legal rights and options.
In December 2021, Grab Holdings went public through a merger with Altimeter Growth Corp. (NASDAQ: AGC), a special purpose acquisition company. As part of the business combination, the company highlighted to investors its dramatic growth in food delivery, digital payments, ride-sharing and financial services through its “SuperApp”.
On March 3, 2022, Grab Holdings shocked investors when it released its first quarterly earnings report as a public company, which included a 44% drop in quarterly revenue from the prior year quarter and a loss of $3.6 billion for fiscal 2021. Following this news, shares of Grab Holdings fell $1.95 per share, or more than 37% in value, to close at $3.28 per share on March 3, 2022.
Kaskela Law LLC exclusively represents investors in state and federal equities nationwide. For more information about the firm, please visit www.kaskelalaw.com.
D.Seamus Kaskela, Esq.
Adrienne Bell, Esq.
SARL DE LOI KASKELA
18 Campus Blvd., Suite 100
Newtown Square, Pennsylvania 19073
(484) 229 – 0750