Articles Posted in Grab Holdings

Investors Involved in Biggest SPAC Merger File Class Action Securities Lawsuit

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is looking into claims of losses by investors of Grab Holdings, Ltd. (NASDAQ: GRAB). This firm became a public entity on December 1, 2021, via the largest Special Purpose Acquisition Company (SPAC) merger to date with Altimeter Growth Corp. The latter is a blank-check firm run by Altimeter Capital CEO and founder Brad Gerstner.  

Grab Holdings, the largest ride-hailing, and delivery company in Southeast Asia has experienced the opposite of growth. Its shares plunged over 20% from $13.06/share to $8.75 at the end of the first day of trading. On March 3, 2022, Grab announced that fourth-quarter revenues saw a 44% drop from the third quarter. That’s a $1.1B loss.