Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Uber Technologies, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Uber Technologies, Inc. ("Uber" or the "Company")(NYSE:UBER) of the December 3, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Uber stock or options pursuant and/or traceable to the Company's May 10, 2019 initial public offering ("IPO") and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Uber securities pursuant and/or traceable to the Company's May 10, 2019 IPO. The case, Stirratt v. Uber Technologies, Inc. et al., No. 19-cv-06361 was filed on October 4, 2019, and has been assigned to Judge Richard Seeborg.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose 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.
Since Uber's IPO, the Company's share price has declined from its IPO price of $45.00 by approximately 13%.
Uber Technologies, Inc. (UBER)
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Filed on 10/07/2019
Lead Plaintiff Deadline 12/03/2019
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