Grab at risk of US class action lawsuits after shares fall
Singapore
LISTING in the US is often desired for its vibrant market and access to capital, but on the flip side, it puts the company at risk of potential litigation with class action lawsuits, with recently-listed Grab becoming the latest target.
Grab, which operates ride-hailing, food delivery and financial services businesses, merged with special purpose acquisition company Altimeter on Dec 2 and its shares opened at US$13.06. Since then, Grab's stock has traded in the region of US$5.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
Mirxes records US$58.7 million operating losses and US$24.2 million revenue in lead up to HK listing
Neuralink says implant had issues after first human surgery
Carsome hits first Ebitda positive quarter in Q1 2024
Square Peg to raise another US$550 million fund in the second half of 2024
Perfume subscription service I’vre closes, amid police probe on unfulfilled orders and refunds
Indonesia agritech startup Elevarm bags US$2.6 million in seed round led by Insignia