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Investigation announced for Long-Term Investors in shares of Waitr Holdings Inc. (NASDAQ: WTRH)

02-21-2020 04:14 PM CET | Politics, Law & Society

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in Waitr Holdings Inc. (NASDAQ: WTRH) shares.

An investigation on behalf of current long term investors in Waitr Holdings Inc. (NASDAQ: WTRH) shares.

Certain directors of Waitr Holdings Inc are under investigation over potential breaches of fiduciary duties.

Investors who are current long term investors in Waitr Holdings Inc. (NASDAQ: WTRH) shares, 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 for current long term investors in NASDAQ: WTRH stocks follows a lawsuit filed against Waitr Holdings Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: WTRH stocks, concerns whether certain Waitr Holdings Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Western District of Louisiana the plaintiff alleges that the defendants pursuant or traceable to Waitr's November 2018 going public transaction with Landcadia, in its May 2019 SPO, and between May 17, 2018 and August 8, 2019made false and/or misleading statements and/or failed to disclose that the Company was not on the verge of profitability, that it was not true that the Company was providing its services at a sustainable low take rate established at 15%, that it was not true that Waitr was able to extract efficiencies from its full time fixed-rate labor force that was purported to allow the Company to offer its services at a lower rate than competitors, that its software provided little or no competitive advantages and what first-mover advantage the Company claimed existed, was quickly squandered by the inability to obtain sophisticated high-level programmers and software engineers who could enable Waitr to refine and develop the software necessary to stay competitive in its market, that it was not true that Waitr maintained an adequate system of internal controls so as to report and eliminate material conflicts of interest, and that as a result, Waitr's public statements were materially false and misleading at all relevant times

Those who purchased shares of Waitr Holdings Inc. (NASDAQ: WTRH) 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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