Levi & Korsinsky, LLP announces that a WTRH class action lawsuit has been filed on behalf of investors who purchased Waitr Holdings Inc. (WTRH) securities between May 17, 2018 and August 8, 2019. For more on the WTRH Lawsuit please contact us today.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Waitr lacked a plan to achieve profitability and, contrary to the statements of Company founder Chris Meaux, Waitr was not at or near profitability and Defendants had created the illusion of financial stability by engaging in a host of illegal and improper activities each designed to inflate revenues and earnings—such as unilaterally breaking low-rate contracts and imposing significantly higher rates, and by refusing to pay drivers for mileage related expenses—both of which ultimately resulted in independent class action lawsuits; and (ii) Waitr’s technology provided no real advantage and the Company could not obtain the developer, programming, or engineering resources necessary to enhance, maintain, and develop industry leading software from its headquarter location in Lake Charles, Louisiana.
If you suffered a loss in you have until November 26, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.