The Gross Law Firm Announces Class Actions on Behalf of Shareholders of REAL, CGC and GRUB
NEW YORK, NY / ACCESSWIRE / January 16, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
The RealReal, Inc. (NASDAQ:REAL)
Investors Affected : all persons and entities who purchased RealReal common stock pursuant and/or traceable to the Company's registration statement issued in connection with the Company's June 27, 2019 initial public offering.
A class action has commenced on behalf of certain shareholders in The RealReal, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's employees received little training on how to spot fake items; (2) the Company's strict quotas on its employees exacerbated product authentication issues; (3) consequently, the potential for counterfeit or mislabeled items to make it through Company's authentication process was higher than disclosed; and (4) as a result, Defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/the-realreal-inc-loss-submission-form/?id=5282&from=1
Canopy Growth Corporation (NYSE:CGC)
Investors Affected : June 21, 2019 – November 13, 2019
A class action has commenced on behalf of certain shareholders in Canopy Growth Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing weak demand for its softgel and oil products; (2) as a result, the Company would be forced to take a CA$32.7 million restructuring charge due to poor sales, excessive returns, and excess inventory; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/canopy-growth-corporation-loss-submission-form/?id=5282&from=1
Grubhub Inc. (NYSE:GRUB)
Investors Affected : July 30, 2019 – October 28, 2019
A class action has commenced on behalf of certain shareholders in Grubhub Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) customer orders were actually declining, despite the massive investments that the Company had made to spur demand for and use of its platform; (ii) Grubhub's new customer additions were generating significantly lower revenues as compared to historic cohorts because these customers were more prone to using competitor platforms; (iii) Grubhub's vaunted business model under which it secured exclusive partnerships had failed, and Grubhub needed to engage in the same aggressive nonpartnered sales tactics embraced by its competitors to generate significant revenue growth; (iv) Grubhub was required to spend substantial additional capital in order to grow revenues and retain market share in the face of heightened competitive dynamics and market saturation, eviscerating the Company's profitability; and (v) Grubhub was tracking tens of millions of dollars below its revenue and earnings guidance and such guidance lacked any reasonable basis.
Shareholders may find more information at https://securitiesclasslaw.com/securities/grubhub-inc-loss-submission-form/?id=5282&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
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New York, NY, 10018
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm