NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Western District of Louisiana on behalf of all investors that purchased Waitr Holdings, Inc. (NASDAQ: WTRH) securities between May 17, 2018 to August 8, 2019 (the “Class Period”) and/or pursuant or traceable to Waitr’s November 2018 going public transaction with Landcadia or in its May 2019 secondary public offering (“SPO”). Investors have until November 26, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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Waitr is an online food ordering and delivery services company that was formed on November 15, 2018 through a public transaction between Waitr Inc. and Landcadia Holdings, Inc. After the transaction, its shares began publicly trading on the Nasdaq under the symbol "WTRH."
On August 8, 2019, the company disclosed highly disappointing financial and operational results for the second quarter of 2019, including the resignation of its CEO; that its integration of BiteSquad.com, LLC, which it acquired in January 2019, was not proceeding according to plan; that the company was laying off personnel; and that losses were far higher than previously anticipated.
On this news, the price of Waitr shares fell 50%. Waitr's market capitalization was $134 million, down from $910 million on March 13, 2019.
If you purchased Waitr securities during the Class Period and/or pursuant to the going public transaction or SPO, continue to hold shares purchased before the Class Period, have information, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Waitr lawsuit, please go to https://bespc.com/WTRH. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.