The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Western District of Louisiana on behalf of investors who purchased Waitr Holdings Inc. (NASDAQ: WTRH) securities between May 17, 2018 and August 8, 2019, including, but not limited to, those who acquired Waitr shares in connection with the Going Public Transaction, and those who acquired shares of the Company in the May 2019 Secondary Offering.
According to the Waitr lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Waitr lacked a plan to achieve profitability and, contrary to the statements of Company founder Chris Meaux, Waitr was not at or near profitability and Defendants had created the illusion of financial stability by engaging in a host of illegal and improper activities each designed to inflate revenues and earnings—such as unilaterally breaking low-rate contracts and imposing significantly higher rates, and by refusing to pay drivers for mileage related expenses—both of which ultimately resulted in independent class action lawsuits; and (ii) Waitr’s technology provided no real advantage and the Company could not obtain the developer, programming, or engineering resources necessary to enhance, maintain, and develop industry leading software from its headquarter location in Lake Charles, Louisiana.
If you suffered a loss in Waitr you have until November 26, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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