NEW YORK, Nov. 08, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a securities class action lawsuit on behalf of shareholders who bought shares of Waitr Holdings, Inc. (NASDAQ:WTRH) between May 17, 2019 and August 8, 2019, inclusive (the Class Period).
NEW YORK, Nov. 08, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a securities class action lawsuit on behalf of shareholders who bought shares of Waitr Holdings, Inc. (NASDAQ:WTRH) between May 17, 2019 and August 8, 2019, inclusive (the “Class Period”).
If you wish to serve as lead plaintiff, you must move the Court no later than November 26, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to obtain a recovery is not dependent upon being a lead plaintiff. If you wish to join the case go: http://zhanginvestorlaw.com/join-action-form/?slug=waitr-holdings-inc&id=2046 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email email@example.com, firstname.lastname@example.org for information on the class action.
According to the case, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was not on the verge of profitability; (2) it was not true that the Company was providing its services at a sustainable low take rate established at 15%; (3) it was not true that Waitr was able to extract efficiencies from its full time fixed-rate labor force that was purported to allow the Company to offer its services at a lower rate than competitors; (4) its software provided little or no competitive advantages and what first-mover advantage the Company claimed existed, was quickly squandered by the inability to obtain sophisticated high-level programmers and software engineers who could enable Waitr to refine and develop the software necessary to stay competitive in its market; (5) it was not true that Waitr maintained an adequate system of internal controls so as to report and eliminate material conflicts of interest; and (6) as a result, Waitr’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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