NEW YORK, Feb. 17, 2020 /PRNewswire/ -- Moore Kuehn, PLLC, a securities law firm located on Wall Street in downtown New York City, is investigating potential claims involving directors and officers regarding possible breaches of fiduciary duties and other violations of law related to whether insiders, as alleged in federal securities lawsuits, caused their companies to make false and/or misleading statements and/or failed to disclose, among other things, that:
- Spirit AeroSystems, Inc. (NYSE: SPR)
(1) Spirit lacked effective internal controls over financial reporting; and (2) Spirit did not comply with its established accounting principles related to potential contingent liabilities. On January 30, 2020, Spirit issued a press release announcing CFO, Jose Garcia, and Principal Accounting Officer, John Gilson, resigned from their positions.
- Trulieve Cannabis Corp. (OTC : TCNNF)
(1) Trulieve overstated its mark-up on its biological assets; (2) Trulieve's reported gross profit was inflated; and (3) Trulieve engaged in an undisclosed related party real estate sale.
- Grubhub Inc. (NYSE: GRUB)
(1) customer orders were actually declining, despite the massive investments the Company had made to spur demand for and use of its platform; (2) 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; (3) Grubhub's vaunted business model under which it secured exclusive restaurant partnerships had failed, and Grubhub needed to engage in the same aggressive non-partnered sales tactics embraced by its competitors to generate significant revenue growth; and (4) 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.
Moore Kuehn encourages shareholders who would like to discuss their rights to contact Justin Kuehn, Esq. by email at jkuehn@moorekuehn.com or telephone at (212) 709-8245. The consultation and case are free with no obligation to you.
Moore Kuehn is a 5-star Google rated New York City-based law firm with attorneys representing investors and consumers in class action litigation involving securities law violations, financial fraud, breaches of fiduciary duties, and other claims. For additional information about Moore Kuehn, please go to http://www.moorekuehn.com/practice/new-york-securities-litigation/.
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Contacts:
Moore Kuehn, PLLC
Justin Kuehn, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
jkuehn@moorekuehn.com
(212) 709-8245
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