The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of all persons and entities other than Defendants who purchased Uber Technologies, Inc. (NYSE: UBER) securities pursuant and/or traceable to Uber’s registration statement issued in connection with Uber’s May 10, 2019 initial public stock offering.
According to the Uber Technologies, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) at the time of the initial public offering, Uber was rapidly increasing subsidies for customer's rides and meals in a bid for market share, which caused the Company's sales and marketing expenses to swell; and (2) Defendants were cutting (or planned to cut) costs in key areas that undermined the Company's central growth opportunities.
If you suffered a loss in Uber Technologies, Inc. you have until December 3, 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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