RADNOR, Pa., March 08, 2022 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Grab Holdings Limited (NASDAQ: GRAB) (“Grab”).
Grab develops delivery management, mobility, financial services, and enterprise software solutions. In particular, Grab operates a “super app” that functions as Southeast Asia’s largest ride-hailing and delivery service, similar to Uber.
In December, 2021, Grab went public through a special-purpose acquisition company ("SPAC") merger, emphasizing the company's dramatic growth in the food delivery, digital payments, ride-hailing and financial services areas through its "super app." Then, on March 3, 2022, Grab announced its first quarterly earnings report as a public company. Among other things, the company reported a 44% revenue decline from the same period in the prior year, along with a loss of $3.6 billion for the year. In addressing these concerns, Grab’s CFO attributed the poor financial results to “invest[ing] heavily” in driver incentives and stated that “[i]t will take one or two quarters to get equilibrium between drivers and riders, between supply and demand.”
Following this news, Grab's stock price fell $1.95 per share, or 37.28%, to close at $3.28 per share on March 3, 2022.
If you are a Grab investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or E-mail at info@ktmc.com. You can also click on the following link or paste it in your browser: https://www.ktmc.com/grab-holdings-investigation?utm_source=PR&utm_medium=link&utm_campaign=grab
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com
