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Investigation announced for Long-Term Investors in Grubhub Inc. (NYSE: GRUB)

04-03-2020 11:16 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in Grubhub Inc. (NYSE: GRUB) shares.

An investigation on behalf of current long term investors in Grubhub Inc. (NYSE: GRUB) shares.

Certain directors of Grubhub Inc are under investigation concerning potential breaches of fiduciary duties.

Investors who are current long term investors in Grubhub Inc. (NYSE: GRUB) 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 NYSE: GRUB stocks follows a lawsuit filed against Grubhub Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: GRUB stocks, concerns whether certain Grubhub 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 Northern District of Illinois the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that customer orders were actually declining, despite the massive investments the Company had made to spur demand for and use of its platform, that Grubhub's new customer additions were generating significantly lower revenues as compared to historic cohorts because these customers were more prone to using competitor platforms, that Grubhub's vaunted business model under which it secured exclusive restaurant partnerships had failed, and Grubhub needed to engage in the same aggressive non-partnered sales tactics embraced by its competitors to generate significant revenue growth, that Grubhub was required to spend substantial additional capital in order to grow revenues and retain market share in the face of heightened competitive dynamics and market saturation, eviscerating the Company's profitability, and that as a result, Grubhub's public statements were materially false and misleading at all relevant times.

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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