SAN DIEGO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of LuxUrban Hotels Inc. (NASDAQ: LUXH). The class action is on behalf of shareholders who purchased or otherwise acquired securities between November 8, 2023 and February 2, 2024. Investors are hereby notified that they have until April 12, 2024, to move the Court to serve as lead plaintiff in this action.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) LuxUrban had not signed a lease with the Royalton Hotel, a four star hotel located in New York; (2) as a result, LuxUrban’s total reported units was overstated; (3) LuxUrban faced multiple lawsuits for unpaid rent; and (4) as a result of the foregoing, defendants’ positive statements about LuxUrban’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you suffered substantial losses and wish to serve as lead plaintiff of the LuxUrban class action lawsuit, please provide your information here:
https://www.johnsonfistel.com/investigations/luxurban-hotels
There is no cost or obligation to you.
What can Investors Do: Shareholders who incurred losses during the class period have until April 12, 2024, to move the court to become a lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
