Press release
Investigation announced for Investors in shares of Grubhub Inc. (NYSE: GRUB)
An investigation for investors in Grubhub Inc. (NYSE: GRUB) shares over potential securities laws violations by Grubhub Inc.
Investors who purchased shares of Grubhub Inc. (NYSE: GRUB), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.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.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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