Grubhub Inc. (GRUB)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Grubhub Inc. (GRUB)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Grubhub Inc. (“Grubhub” or “the Company”) (NYSE: GRUB). The investigation concerns whether Grubhub and certain of its officers and/or directors have violated federal securities laws.
On July 30, 2019, Grubhub announced its second quarter 2019 fiscal results for the, with a 16% year-over-year increase in Daily Active Grubs ("DAGs"). Following this press release, Grubhub's President and CFO, Adam DeWitt, said on a conference call that the 16% growth was "a good baseline for the organic growth. . . ."
Then on October 28, 2019 after-market hours, Grubhub revealed its third quarter 2019 fiscal results and published a letter divulging that in August their overall DAGs dropped below expectations. Following this news, Grubhub stock dropped $25.28 per share, or roughly 43%, to close at $33.11 on October 28, 2019.
If you are aware of any facts relating to this investigation, or purchased Grubhub shares, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.