INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of Grubhub Inc. Investors
BENSALEM, Pa.--(BUSINESS WIRE)--Nov 22, 2019--
Law Offices of Howard G. Smith announces an investigation on behalf of Grubhub Inc. (“Grubhub” or the “Company”) (NYSE: GRUB ) investors concerning the Company and its officers’ possible violations of federal securities laws.
On October 28, 2019, Grubhub announced disappointing financial results for its third fiscal quarter of 2019, revealing that an important demand metric, daily average grubs, had actually fallen 6% sequentially despite an increase in active diners. The Company slashed 2019 earnings and revenue projections, and expected only $100 million in EBITDA for 2020, more than 70% below market expectations.
On this news, Grubhub share price fell $25.28, or over 43%, to close at $33.11 per share on October 29, 2019, thereby injuring investors.
If you purchased Grubhub securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191122005544/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2019.
PUB: 11/22/2019 06:44 PM/DISC: 11/22/2019 06:44 PM