Case: Grab Holdings, Inc.
Location: Southern District of New York
Class Period: 11/12/2021 - 3/3/2022
Lead Plaintiff Deadline: 5/16/2022
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NEW YORK, NY – March 24, 2022 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Grab Holdings Limited (“Grab” or the “Company”) (NASDAQ: GRAB).  Grab purportedly offers a superapp that operates primarily across the deliveries, mobility, and digital financial services sectors in Southeast Asia.  A complaint has been filed on behalf of investors who purchased or otherwise acquired Grab securities between November 12, 2021 and March 3, 2022, inclusive (the “Class Period”). 

On November 12, 2021, the start of the Class Period, Grab filed an amended Registration Statement on Form F-4 in connection with a business combination with Altimeter Growth Corp., a special purpose acquisition company (SPAC).

According to the complaint, on December 1, 2021, Grab became a public entity through a SPAC merger with Altimeter Growth Corp.

On March 3, 2022, Grab disclosed that its fourth quarter revenues had declined 44% from the previous quarter and reported a $1.1 billion loss for the quarter.  During a conference call held in connection with the results, Anthony Tan, Grab's Chief Executive Officer, attributed the poor financial results to "invest[ing] heavily" in driver incentives.  Additionally, during the conference call, Peter Oey, Grab's Chief Financial Officer, stated that it would take one or two quarters "to get that equilibrium between drivers and riders, between supply and demand."  He also stated that "for the first quarter, we expect to see deliveries GMV of $2.4 billion to $2.5 billion, mobility GMV of $760 million to $800 million, and financial services TPV of $3.1 billion to $3.2 billion." 

Following this news, Grab's stock price fell $2.04 per share, or 37.3%, to close at $3.28 per share on March 3, 2022.

If you are a member of the proposed Class, you may move the court no later than May 16, 2022 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by calling (646) 315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact: 

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 687-1980
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Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
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