An investigation on behalf of investors of Grubhub Inc. (NYSE: GRUB) shares over potential securities laws violations by Grubhub Inc. and certain of its directors and officers in connection with certain financial statements was announced.
Investors who purchased shares of Grubhub Inc. (NYSE: GRUB), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Grubhub Inc. (NYSE: GRUB) concerning whether a series of statements by Grubhub Inc. (NYSE: GRUB regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Chicago, IL based Grubhub Inc., together with its subsidiaries, provides an online and mobile platform for restaurant pick-up and delivery orders in the United States. Grubhub Inc. reported that its annual Total Revenue rose from $683.06 million in 2017 to over $1 billion in 2018.
On July 15, 2019, it was reported that Grubhub Inc. (NYSE: GRUB) registered more than 20,000 web domains, many matching the names of its restaurant customers without their permission. Another claim against the company alleges Grubhub charges erroneous fees to restaurants from phone orders generated through websites it operates. The Small Business Association is reportedly investigating these complaints and New York Senator Chuck Schumer recently demanded that Grubhub change its practices or he would seek the aid of the Federal Trade Commission. This press conference followed similar calls from New York City Council’s Mark Gjonaj who asked New York Attorney General Letitia James to launch an antitrust investigation into the company.
Shares of Grubhub Inc. (NYSE: GRUB) declined from $149.35 per share in September 2018 to as low as $57.37 per share on August 15, 2019.
On August 21, 2019, NYSE: GRUB shares closed at $61.85 per share.
Those who purchased shares of Grubhub Inc. (NYSE: GRUB) have certain options and should contact the Shareholders Foundation.