INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Grab Holdings Limited (GRAB, GRABW) on Behalf of Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Grab Holdings Limited (“Grab” or the “Company”) (NASDAQ: GRAB, GRABW) investors concerning the Company’s possible violations of federal securities laws.

In December 2021, Grab went public via business combination with Altimeter Growth Corp., a special purpose acquisition company. The Company claimed that its “mobility business has been rising as lockdowns have been relaxed. Our payments business also continues to grow. We’re seeing all strong signs.”

Then, on March 3, 2022, Grab disclosed that its fourth quarter revenues had declined 44% from the previous quarter and reported a $1.1 billion loss for the quarter. Grab’s Chief Financial Officer attributed the poor financial results to "invest[ing] heavily" in driver incentives and stated that it would take one or two quarters "to get that equilibrium between drivers and riders, between supply and demand."

On this news, Grab’s stock fell $2.04, or 37.3%, to close at $3.28 per share on March 3, 2022, thereby injuring investors.

If you purchased Grab 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 [phone], toll-free at [phone], or by email to [e-mail], 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.

Contacts