Bragar Eagel & Squire, PC reminds investors that class action lawsuits have been filed… | Your money

NEW YORK, April 27, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that class action lawsuits have been filed on behalf of shareholders of Grab Holdings, Inc. (NASDAQ: GRAB), Celsius Holdings, Inc. (NASDAQ: CELH), FAT Brands, Inc. (NASDAQ: FAT) and Cano Health, Inc. (NYSE: CANO). Shareholders have until the deadlines below to ask the court to serve as lead plaintiff. Additional information on each case can be found at the link provided.

Grab Holdings, Inc. (NASDAQ: GRAB)

Course period: November 12, 2021 – March 3, 2022

Lead applicant deadline: May 15, 2022

On March 3, 2022, at 7:01 a.m. EST, Grab disclosed that its fourth quarter revenue was down 44% from the prior quarter and posted a loss of $1.1 billion for the quarter. . Grab’s chief financial officer attributed poor financial results to “investment[ing] heavily” in driver incentives and said it would take a quarter or two “to get that balance between drivers and riders, between supply and demand.”

Following this news, the Company’s share price fell $2.04, or 37.3%, to close at $3.28 per share on March 3, 2022, on unusually high trading volume. raised.

The Complaint filed in this Class Action alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts regarding the business, operations and societal prospects. Specifically, the defendants failed to disclose to investors: (1) that Grab’s pilot supply declined during the third quarter; (2) that, as a result, Grab continued to invest heavily in driver and consumer incentives to “preemptively recalibrate the driver supply”; (3) that as a result, the Company’s financial results would be adversely affected, including, among other things, a significant decline in revenues; 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 reasonable basis.

For more information on the Grab class action, visit: https://bespc.com/cases/GRAB

Celsius Holdings, Inc. (NASDAQ: CELH)

Course period: August 12, 2021 – March 1, 2022

Lead applicant deadline: May 15, 2022

On March 1, 2022, after the market closed, Celsius disclosed that it could not file its 2021 annual report in a timely manner due to “staff limitations, unforeseen delays and clerical errors identified in previous filings” . Specifically, Celsius “determined that the calculation and expense of non-cash stock-based compensation related to stock option and restricted stock unit awards granted to certain former employees and retired directors were significantly underestimated for the three- and six-month periods ended June 30. , 2021 and the three and nine month periods ended September 30, 2021.” Accordingly, management has concluded that there is a material weakness in the Company’s internal control over financial reporting.

Following this news, the company’s stock price fell to an intraday low of $56.21 per share on unusually high trading volume on March 2, 2022. During the March 2 trading sessions 2022 and from March 3, 2022, the company’s stock price fell $5.20 in total, or 8.3% on unusually high trading volume to close at $57.60 per share on March 3, 2022.

The Complaint filed in this Class Action alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts regarding the business, operations and societal prospects. Specifically, defendants failed to disclose to investors: (1) that the company incorrectly recorded expenses for non-cash stock-based compensation for the second and third quarters of 2021; (2) that as a result, the Company’s financial statements for those periods would be restated, including to report a net loss for the third quarter of 2021; (3) that there was a material weakness in Celsius’s internal controls over financial reporting; 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 reasonable basis.

For more information on the Celsius class action, please visit: https://bespc.com/cases/CELH

FAT Brands, Inc. (NASDAQ: FAT)

Course period: December 4, 2017 – February 18, 2022

Lead Applicant Deadline: May 17, 2022

The class action seeks to determine whether the Company made false and/or misleading statements and/or failed to disclose relevant information to investors. FAT Brands is the subject of a report published by the Los Angeles Times on February 19, 2022. According to the Times, “Federal authorities have investigated Andrew Wiederhorn, chief executive of the company that owns the Fatburger and Johnny Rockets restaurant chains, and examining the actions of a family member in an investigation into allegations of securities and wire fraud, money laundering and attempted tax evasion, court records show.

On this news, shares of FAT Brands fell $2.42, or 22.9%, to close at $8.14 per share on Feb. 22, 2022, hurting investors.

The Complaint filed in this Class Action alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts regarding the business, operations and societal prospects. Specifically, the defendants failed to disclose to investors: (1) the company and the Wiederhorns engaged in transactions “without a legitimate business purpose”; (2) the company ignored warning signs relating to transactions with the Wiederhorns; (3) as a result, the Company was subject to heightened scrutiny, investigations and other potential issues; (4) certain executives, who are portrayed as critical to the Company’s success, were at high risk of scrutiny, at least in part, because of the Company’s actions; (5) the company’s chief executive officer (CEO) and chief operating officer (COO) were under investigation regarding transactions with the company; and (6) as a result, the defendants’ public statements were materially false and/or misleading at all relevant times. When the real details entered the market, the lawsuit claims investors suffered damages.

For more information on the FAT class action, go to: https://bespc.com/cases/FAT

Cano Health, Inc. (NYSE:CANO)

Course period: May 18, 2020 – February 25, 2022

Lead Applicant Deadline: May 17, 2022

On February 28, 2022, Cano Health, Inc., a primary care provider for seniors and underserved communities, announced that it would delay the release of fourth quarter and full year 2021 financial statements, originally scheduled for today due to the results of a recent internal audit. . The audit revealed certain non-cash adjustments related to revenue recognition that may impact when and how the company recognizes revenue related to Medicare risk adjustments.

On this news, the price of Cano’s Class A common stock fell $0.32 per share, or 6.17%, to close at $4.87 per share on February 28, 2022.

The Complaint filed in this Class Action alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts regarding the business, operations and societal prospects. Specifically, the defendants failed to disclose to investors: (i) Cano overstated its due diligence efforts and expertise in acquiring target businesses; (ii) as a result, Cano performed inadequate due diligence to determine whether the Company, post-business combination, could properly account for the timing of revenue recognition as prescribed by ASC 606, particularly with respect to relates to Medicare risk adjustments; (iii) as a result, the Company misreported its capitation revenues, direct patient expenses, accounts receivable, net of unpaid service provider costs, and accounts payable and accrued liabilities; (iv) as a result, the Company was at increased risk of not filing one or more of its periodic financial reports on time; and (v) as a result, the Company’s public statements were materially false and misleading at all material times.

For more information on the Cano class action, please visit: https://bespc.com/cases/CANO

About Bragar Eagel & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.

Contact information:

Bragar Eagel & Squire, CP Brandon Walker, Esq. Alexandra B. Raymond, Esq. (212) 355-4648 [email protected]www.bespc.com