OAKLAND, Calif.–(BUSINESS WIRE)–A Grab Holdings class action lawsuit has been filed on behalf of investors who lost money in Grab Holdings (NASDAQ: GRAB), and the deadline for submitting losses is May 16, 2022. The action currently has a bearish sentiment score from InvestorsObserver, and according to Motley Fool, shares of Southeast Asian ridesharing and food delivery app company Grab Holdings have now fallen sharply by 39.2% in March. Grab’s chief executive, Nguyen Thai Hai Van, plans to step down in late April, and Grab’s chief technology officer, Wui Ngiap Foo, left in late March to run a blockchain gaming platform, according to Bloomberg and LinkedIn. If you invested in Grab Holdings between November 12, 2021 and March 3, 2022, please contact Gibbs Law Group to discuss your legal rights and options.

To speak to a lawyer regarding this class action investigation, click here or call (888) 410-2925.

According to Bloomberg, Grab Holdings’ price has more than halved since the start of 2022, and yet the company continues to “splurge” on subsidies. In its quarterly report released on March 3, 2022, Grab Holdings mentioned that it had invested heavily in superseding incentives to bring in drivers as pandemic threats subsided and rideshare demand increased. According to The Motley Fool, partner and consumer incentives were up 15% and 73% respectively year over year. But despite Grab’s upbeat forecast following the company’s December 2021 IPO, revenue fell 44% to $122 million in the fourth quarter, widening its losses to $1.1 billion, far more than its loss of $635 million the previous year.

According to CNBC, Grab has invested a large sum of money in incentives to maintain its position as market leader and to bring in drivers to “[catch] up in terms of supply. However, as more and more people started dining out more and more as the threat of COVID subsided, demand for food delivery services plummeted and Grab’s delivery unit revenue dropped by 98%. Revenue from its mobility unit, which accounted for 85% of overall sales, fell 27% in its fourth quarter alone.

Previously, Grab Holdings went public in December 2021 through a SPAC merger with Altimeter Growth Corp.

What must Are investors getting it?

If you have invested in Grab Holdings, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you might recoup your losses. Our investigation focuses on whether Grab Holdings violated federal securities laws.

About Gibbs Law Group

Gibbs Law Group represents individual and institutional investors nationwide in securities litigation to redress abusive corporate governance practices, breaches of fiduciary duty and breaches of powers of attorney. The firm has recovered over $1 billion for its clients against some of the largest corporations in the world, and our attorneys have received numerous accolades for their work, including “Best Lawyers in America”, “Best Plaintiffs Lawyers in California “, “California Lawyer Attorney of the Year”, “Best Class Action Lawyers Under 40”, “Consumer Protection MVP” and “Best Cybersecurity/Privacy Lawyers Under 40”.

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