NEW YORK--(BUSINESS WIRE)--#Class--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Grab Holdings, Inc. (“Grab Holdings” or the “Company”) (NASDAQ: GRAB) on behalf of Grab Holdings stockholders. Our investigation concerns whether Grab Holdings has violated the federal securities laws and/or engaged in other unlawful business practices.
Click here to participate in the action.
In December 2021, Grab Holdings went public through a merger with a SPAC called Altimeter Growth Corp., 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 March 3, 2022, the sustainability of Grab Holdings’ growth came into question when Grab Holdings announced its first quarterly earnings report as a public company for Q4 2021 (ended December 31, 2021). 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.
On this news, Grab Holdings’ stock price declined by $1.95 per share, or approximately 37.3%, from $5.23 per share to close at $3.28 per share on March 3, 2022.
If you purchased or otherwise acquired Grab Holdings shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
