Investigation Alert: Bernstein Litowitz Berger & Grossmann LLP Announces Investigation of Grab Holdings Limited and Encourages Investors to Contact the Firm|||




NEW YORK–(Business organisation WIRE)–Prominent investor rights constabulary firm Bernstein Litowitz Berger & Grossmann LLP (“BLB&G”) is investigating potential violations of the federal securities laws by Grab Holdings Limited (“Catch” or the “Company”) (NASDAQ: GRAB).

BLB&Chiliad’s investigation is focused on whether Take hold of misled investors almost its acquirement growth and business prospects.

Based in Singapore, Catch develops commitment direction, mobility, financial services, and enterprise software solutions. In item, Catch operates a “super app” that functions every bit Southeast Asia’due south largest ride-hailing and commitment service, similar to Uber.

Take hold of went public through a merger with a special purpose acquisition visitor (“SPAC”) on December 2, 2021. Post-obit the merger, Grab stock opened at $13.06 per share giving the Company a market capitalization of $51.6 billion. At the time of the merger, Peter Oey, the Company’s Main Financial Officer touted that “[o]ur mobility business has been ascension as lockdowns have been relaxed. Our payments business also continues to grow. We’re seeing all strong signs.”

Iii months later, on March three, 2022, Catch announced its outset quarterly financial results as a public company, and revealed that its revenues had declined 44% from the prior quarter. The Visitor also disclosed that it incurred a loss of $3.6 billion in total yr 2021, with a $1.1 billion loss in the fourth quarter lone, about double the loss Grab reported in the aforementioned quarter a year before. In stark contrast to the statements he made at the time of the merger, Peter Oey attributed the poor financial results to “invest[ing] heavily” in driver incentives and stated that “[i]t volition take one or 2 quarters to get equilibrium between drivers and riders, between supply and demand.” On this news, Grab shares declined past $1.95 per share, or 37%, to close at $3.28 per share on March 3, 2022.

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The investigation is being led by BLB&G partner Scott R. Foglietta.
If you lot have information that could assist in this investigation as a by employee or other interested party, or if you are a Take hold of investor who suffered a loss and would like to learn more than about our investigation,
delight contact BLB&Thou at (212) 554-4444, via east-mail at inquiries@blbglaw.com, or through the form on our website here.


Nigh BLB&G and SPAC Litigation

BLB&G is widely recognized worldwide as a leading constabulary house advising institutional investors on issues related to corporate governance, shareholder rights, and securities litigation. Since its founding in 1983, BLB&G has built an international reputation for excellence and integrity and pioneered the use of the litigation procedure to achieve precedent-setting governance reforms. Unique among its peers, BLB&G has obtained several of the largest and most significant securities recoveries in history, recovering over $33 billion on behalf of defrauded investors. More information about the firm tin exist found online at www.blbglaw.com.

As office of BLB&G’south mission to protect shareholder interests and police securities markets, the firm is actively prosecuting a variety of claims challenging misconduct related to SPACs. BLB&G’due south leadership in this space includes claims against SPAC sponsors, boards of directors, and other related parties, seeking redress for investors harmed by fraud, conflicts of interest, and statutory violations, amongst other things. Our interdisciplinary squad of attorneys—supported by fraud examiners, private investigators, and financial analysts—has all-encompassing feel prosecuting securities fraud claims, fiduciary duty claims, and other shareholder litigation that is direct applicable to the burgeoning SPAC infinite. More data virtually the firm’south experience with SPAC litigation tin can exist found online at https://www.blbglaw.com/practices/spac-practice.

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This press release may exist considered Attorney Ad nether the applicable police force and ethics rules of some jurisdictions. Prior results practise non guarantee a like consequence.

Contacts

Scott R. Foglietta

Bernstein Litowitz Berger & Grossmann LLP

1251 Avenue of the Americas, 44th
Flooring

New York, New York 10020

(212) 554-4444

inquiries@blbglaw.com

Source: https://www.dailyhostnews.com/investigation-alert-bernstein-litowitz-berger-grossmann-llp-announces-investigation-of-grab-holdings-limited-and-encourages-investors-to-contact-the-firm