The Law Offices of Frank R. Cruz announces an investigation of LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (NASDAQ: LUXH) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On January 17, 2024, Bleeker Street published a report alleging, among other things, that LuxUrban had not signed the lease for the Royalton Hotel in New York, as it had claimed. The report also alleged that there have been several lawsuits accusing LuxUrban of not paying rent and owing landlords large sums of unpaid rent.
On this news, LuxUrban’s stock price fell $1.01, or 20.6%, over two consecutive trading days to close at $3.89 per share on January 18, 2024, thereby injuring investors.
Then, on February 5, 2024, LuxUrban announced the “termination of discussions to add the Royalton Hotel to its roster of properties.”
On this news, LuxUrban’s stock price fell $0.99, or 22%, to close at $3.50 per share on February 5, 2024, thereby injuring investors further.
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If you purchased LuxUrban securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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