Thieler Law Corp advises investors with losses exceeding $100,000 of the January 21, 2020 lead plaintiff deadline in a class action lawsuit filed against Grubhub Inc. (NYSE: GRUB) (“Grubhub” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of Illinois and investors, who purchased Grubhub Inc securities between July 30, 2019 and October 28, 2019, have until January 21, 2020 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Grubhub Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that customer orders were actually declining, despite the massive investments the Company had made to spur demand for and use of its platform; 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; Grubhub’s vaunted business model under which it secured exclusive restaurant partnerships had failed, and Grubhub needed to engage in the same aggressive non-partnered sales tactics embraced by its competitors to generate significant revenue growth; 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 as a result, Grubhub’s public statements were materially false and misleading at all relevant times.

On October 28, 2019, the Company revealed disappointing financial results for its third fiscal quarter of 2019, revealing that an important demand metric, daily average grubs, had actually fallen 6% sequentially despite an increase in active diners. The Company slashed 2019 earnings and revenue projections, and expected only $100 million in EBITDA for 2020, more than 70% below market expectations.

Following this news, Grubhub share price fell $25.28, or over 43%, to close at $33.11 per share on October 29, 2019.

If you were negatively impacted by your investment in Grubhub Inc securities between July 30, 2019 and October 28, 2019 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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