Grab Holdings Limited

  • Active

Investigation
03/02/2022

Initial Lawsuit
03/16/2022

Lawsuit Progression
06/07/2022

Investigation

  • Continous Holding
    November 12, 2021 to March 3, 2022
  • Proposed Claim
    Securities Violation

Whether Grab issued misleading statements related to the release of its Q4 $1.1 billion loss and heavy investment in driver and consumer incentives to “preemptively recalibrate driver supply.”

This post is open for investors to gather facts, and findings and track their exposure to related lawsuits. We invite investors and shareholders to contribute to this investigation for their own benefit, add events to the factual timeline below and vote on events’ pertinence.

A lawsuit was subsequently filed. We will update this post as it unfolds.

Main Event

Q4 2021 - $1.1B Loss

03/03/2022

SEC Filing

Grab releases its financial results for the fourth quarter and full year ended December 31, 2021, including a $1.1 billion and revenue of $122 million, a 44% decline year over year “as Grab preemptively invested to grow driver supply to support strong recovery in mobility demand.”

Peter Oey, its chief financial officer affirmed that the company “plan to be judicious and disciplined in allocating capital” as they “double down on the long-term growth opportunities of [their] on-demand, advertising and financial services businesses.”

The stock impact compares the closing price immediately preceding the date of the event and the following closing price. The price difference also reflects the overall mix of information.

Stock Impact

Close Previous close Price variation Percentage variation
$3.28 $5.23 $-1.95 -37.28%
See more on Factual Timeline

Initial Lawsuit

An investor filed a securities class action lawsuit on behalf of persons and entities that purchased or otherwise acquired Grab Holdings Limited securities between November 12, 2021 and March 3, 2022, inclusive.

  • Filing Date
    03/16/2022
  • Class Period
    11/12/2021 to 03/03/2022
  • Transgression
    Securities Violation
  • Filing Firms
    Glancy Prongay & Murray LLP
  • Case Title
    Peccarino v. Grab Holdings Limited et al
  • Docket Number
    1:22-cv-02189
  • Court
    New York Southern District Court
  • Free File
    Complaint

Allegations

According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors:

(1) that Grab’s driver supply declined during the third quarter;
(2) that, as a result, Grab continued to invest heavily in driver and consumer incentives to “preemptively recalibrate driver supply”;
(3) that, as a result, the company’s financial results would be adversely impacted, including, among other things, a significant decline in revenue; and
(4) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Defendants

  • Company
    Grab Holdings Limited
  • Chief Executive Officer
    Anthony Tan
  • Chief Financial Officer
    Peter Oey

Lawsuit progression

  • Docket Number
    1:22-cv-02189
  • Court
    New York Southern District Court

Lead Counsel

06/07/2022

The court issued an order appointing the lead plaintiff and lead counsel.

  • Lead Counsel
    Levi & Korsinsky, LLP
    Pomerantz LLP
  • Lead Plaintiff
    Mixed Group
  • Free File
    Order for lead
[stockdio-historical-chart symbol=”GRAB” stockExchange=”NYSENasdaq” width=”500″ height=”330″ motif=”blinds” palette=”humanity” includeVolume=false]

Factual Timeline

More

More Cases & Investigations
Privacy Policy
© Copyright 2025 Brios Services LLC
Terms & Conditions