SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP is investigating Grab Holdings Limited (NASDAQ: GRAB) and its officers and directors to determine whether they breached their fiduciary duties and violated securities laws in relation to the Company's decline in revenue in Q4 2021. Grab offers a superapp that operates primarily across the deliveries, mobility, and digital financial services sectors in Southeast Asia.
If you would like more information about our investigation of Grab Holdings Limited's misconduct, click here.
What is this Case About: According to a class action complaint filed against Grab, on March 3, 2022, Grab disclosed its fourth quarter revenues had declined 44% from the previous quarter and reported a $1.1 billion loss for the quarter. Grab’s Chief Financial Officer attributed the poor financial results to “invest[ing] heavily” in driver incentives and stated that it would take one or two quarters “to get that equilibrium between drivers and riders, between supply and demand.” On this news, the Company's stock price fell over 37%, to close at $3.28 per share on March 3, 2022.
During the class period, defendants failed to disclose to investors that Grab’s driver supply declined during the third quarter and as a result, Grab continued to invest heavily in driver and consumer incentives to “preemptively recalibrate driver supply”. Consequently, the Company’s financial results would be adversely impacted, including, among other things, a significant decline in revenue.
Next Steps: If you acquired shares of Grab Holdings Limited (GRAB) between November 12, 2021 and March 3, 2022, you have legal rights. Contact us for more information.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Contact us to learn more:
Aaron Dumas
(800) 350-6003
adumas@robbinsllp.com
Shareholder Information Form
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Grab Holdings Limited settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
Attorney Advertising. Past results do not guarantee a similar outcome.
