Globe Newswire 11-Oct-2019 3:00 PM
NEW YORK, Oct. 11, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Uber Technologies, Inc. ("Uber" or "the Company") (NYSE:UBER) and certain of its officers, on behalf of shareholders who purchased Uber securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with Uber's May 2019 initial public stock offering (the "IPO" or the "Offering"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/uber.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The complaint alleges that the Registration Statement was false and/or misleading statements and/or failed 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.
If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/uber or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Uber you have until December 3, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org