NEW YORK, Nov. 13, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit on behalf of shareholders who purchased shares of Waitr Holdings Inc. (NASDAQ: WTRH) from May 17, 2018 through August 8, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Waitr Holdings Inc. investors under the federal securities laws.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 26, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

To express an interest in the class action, go http://pawarlawgroup.com/cases/waitr-holdings-inc/   or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company was not on the verge of profitability; (2) it was not true that the Company was providing its services at a sustainable low take rate established at 15%; (3) it was not true that Waitr was able to extract efficiencies from its full time fixed-rate labor force that was purported to allow the Company to offer its services at a lower rate than competitors; (4) its software provided little or no competitive advantages and what first-mover advantage the Company claimed existed, was quickly squandered by the inability to obtain sophisticated high-level programmers and software engineers who could enable Waitr to refine and develop the software necessary to stay competitive in its market; (5) it was not true that Waitr maintained an adequate system of internal controls so as to report and eliminate material conflicts of interest; and (6) as a result, Waitr’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

No class has been certified.  Until a class is certified, you are not represented by counsel unless you hire one.  You may hire counsel of your choice.  You may also do nothing at this time and be an absent member of the class.  Your ability to share in any future recovery is not dependent upon being a lead plaintiff.   Attorney advertising.

Pawar Law Group represents investors from around the world.
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Contact:  
Vik Pawar, Esq.  
Pawar Law Group  
20 Vesey Street, Suite 1410  
New York, NY 10007  
Tel: (917) 261-2277  
Fax: (212) 571-0938  
info@pawarlawgroup.com