GRAB INVESTIGATION: Hagens Berman, National Trial Attorneys, Investigating Grab Holdings Limited (GRAB) For Possible Securities Law Violations, Investors With Significant Losses Encouraged to Contact Firm
SAN FRANCISCO, March 4, 2022 /PRNewswire/ -- Hagens Berman urges Grab Holdings Limited (NASDAQ: GRAB) investors who suffered significant losses to submit your losses now. The firm is investigating possible violations of the securities laws.
Visit: www.hbsslaw.com/investor-fraud/GRAB
Contact An Attorney Now: [email protected]
844-916-0895
Grab Holdings Limited (NASDAQ: GRAB) Investigation:
The investigation focuses on Grab's statements concerning the sustainability of its growth and business prospects.
Specifically, in Dec. 2021, Grab went public through a SPAC-merger, emphasizing the company's dramatic growth in the food delivery, digital payments, ride-hailing and financial services areas through its "super app." The company highlighted its huge opportunity to grow further in the firm's core businesses in Southeast Asia and other regions.
But on Mar. 3, 2022, the sustainability of Grab's growth came into question when Grab announced its first quarterly earnings report as a public company. The results were dismal. The company reported a 44% decline in Q4 revenue from the prior year's quarter, and a whopping FY 2021 loss of $3.6 billion. Management blamed the results on the company having to increase spending to offer higher commissions to attract drivers and greater incentives to users and partners.
This news sent the price of Grab shares sharply lower.
"We're focused on investors' losses and whether Grab embellished its growth prospects and failed to disclose known trends," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Grab and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Grab should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
SOURCE Hagens Berman Sobol Shapiro LLP
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