NEW YORK, NY / ACCESSWIRE / January 9, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Grubhub Inc. (NYSE:GRUB)
Class Period: July 30, 2019 to October 28, 2019
Lead Plaintiff Deadline: January 21, 2020

During the class period, Grubhub Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (i) customer orders were actually declining, despite the massive investments that the Company had made to spur demand for and use of its platform; (ii) Grubhub’s new customer additions were generating significantly lower revenues as compared to historic cohorts because these customers were more prone to using competitor platforms; (iii) Grubhub’s vaunted business model under which it secured exclusive partnerships had failed, and Grubhub needed to engage in the same aggressive nonpartnered sales tactics embraced by its competitors to generate significant revenue growth; (iv) Grubhub was required to spend substantial additional capital in order to grow revenues and retain market share in the face of heightened competitive dynamics and market saturation, eviscerating the Company’s profitability; and (v) Grubhub was tracking tens of millions of dollars below its revenue and earnings guidance and such guidance lacked any reasonable basis.

Learn about your recoverable losses in GRUB: http://www.kleinstocklaw.com/pslra-1/grubhub-inc-loss-submission-form?id=5215&from=1

Aurora Cannabis Inc. (NYSE:ACB)
Class Period: September 11, 2019 to November 14, 2019
Lead Plaintiff Deadline: January 21, 2020

The ACB lawsuit alleges Aurora Cannabis Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (1) as opposed to the Company’s representations, Aurora’s revenue would decline in its first quarter of fiscal 2020 ended September 30, 2019; (2) the Company would halt construction on its Aurora Nordic 2 and Aurora Sun facilities; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Learn about your recoverable losses in ACB: http://www.kleinstocklaw.com/pslra-1/aurora-cannabis-inc-loss-submission-form?id=5215&from=1

X Financial (NYSE:XYF)
Class Period: X Financial American Depositary Shares pursuant and/or traceable to the Company’s September 19, 2018 initial public offering.
Lead Plaintiff Deadline: February 7, 2020

The XYF lawsuit alleges that X Financial made materially false and/or misleading statements and/or failed to disclose that: (i) the Company’s total loan facilitation amount was not growing, but rather was contracting; (ii) the number of investors actively using X Financial’s platform was shrinking; (iii) demand from small- and medium-sized enterprises for the Company’s preferred loans was plummeting; (iv) the Company’s preferred loans had performed so poorly that it had begun drastically scaling back its preferred loans in the first quarter of 2018, several months before the initial public offering (“IPO”), and was in the process of phasing out such loans completely; (v) demand for the Company’s card loans was also plummeting; (vi) the revenue and loan facilitation growth provided in the registration statement leading up to the IPO was achieved by relaxed credit and due diligence standards, under which the Company had underwritten tens of millions of dollars’ worth of poor quality loans that suffered from a disproportionately high risk of default as compared to the Company’s earlier loan vintages; (vii) the Company was suffering from accelerated delinquency rates from poor quality loans that it had underwritten in the first, second, and third quarters of 2018, which had caused the Company’s delinquency rate to sharply rise; (viii) the Company’s product mix had significantly deteriorated; (ix) the Company’s net revenue was on track to decline by 22% during the third quarter of 2018; and (x) as a result, the Registration Statement was materially false and/or misleading and failed to state information required to be stated therein.

Learn about your recoverable losses in XYF: http://www.kleinstocklaw.com/pslra-1/x-financial-loss-submission-form?id=5215&from=1

Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigation involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
[email protected]
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: J. Klein, Esq.

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https://www.accesswire.com/572594/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-GRUB-ACB-and-XYF