UBER Business Wire NEW YORK -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Uber Technologies, Inc. resulting from allegations that Uber may have issued materially misleading business information to the investing public.
Rosen Law Firm is now preparing a class action lawsuit to recover losses suffered by Uber investors.
According to the lawsuit, the Registration Statement was false and/or misleading statements and/or failed 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;
(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.
When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed.
If you wish to serve as lead plaintiff, you must move the Court no later than December 3, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1650.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors. Prior results do not guarantee a similar outcome.
TAXI LEAKS EXTRA BIT:
What we as a trade must never forget, are the investors who were told "we will destroy the traditional Taxi trade and take over, then increase our prices....Blah blah blah
We must never forget these other companies who were prepared to sit back and watch our trade destroyed in the name of greed.
And yet there are drivers out there, actively using a CC clearance system by a company who invested £500m in a company setting out to wipe us out.... all because they are cheaper than the others CC companies.
It makes drivers using these systems no better the the people who use Uber
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