Uber Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Uber Technologies, Inc. To Contact The Firm
NEW YORK, NY - ( NewMediaWire ) - November 26, 2019 - Faruqi Faruqi, LLP, a leading national securities law firm, reminds investors in Uber Technologies, Inc. (“Uber” or the “Company”)(NYSE:UBER) of the December 3, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Uber stock or options pursuant and/or traceable to the Company’s May 10, 2019 initial public offering (“IPO”)and would like to discuss your legal rights, click here: www.faruqilaw.com/UBER. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnellotoll free at 877-247-4292or at 212-983-9330or by sending an e-mail email@example.com.
CONTACT:FARUQI FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. firstname.lastname@example.org Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Uber securities pursuant and/or traceable to the Company’s May 10, 2019 IPO. The case, Stirratt v. Uber Technologies, Inc. et al., No. 19-cv-06361 was filed on October 4, 2019, and has been assigned to Judge Richard Seeborg.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) at the time of the Offering, Uber was rapidly increasing subsidies for drivers and customer’s rides and meals in a bid for market share, which caused the Company’s sales and marketing expenses to swell; (2) Defendants were cutting (or planned to cut) costs in key areas that undermined the Company’s central growth opportunities; and (3) as a result, defendants’ statements about Uber’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Since Uber’s IPO, the Company’s share price has declined from its IPO price of $45.00 by approximately 13%.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi Faruqi, LLP also encourages anyone with information regarding Uber’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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