BENSALEM, Pa.--(BUSINESS WIRE)--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 email@example.com, or visit our website at www.howardsmithlaw.com.
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