Travel & Tourism Industry release:
If you invested in Trivago American Depositary Receipts (“ADRs”) pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the Company’s initial public offering on or about December 16, 2016 (the “IPO”) and/or on the open market between December 16, 2016 and October 26, 2017 (the “Class Period”) and would like to discuss your legal rights, click here: www.faruqilaw.com/TRVG. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Trivago ADRs in connection with the Company’s IPO and/or throughout the Class Period. The case, Holbrook v. Trivago N.V. et al, No. 1:17-cv-08348 was filed on October 30, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) Trivago engaged in deceptive sales practices; (ii) such practices were nearly certain to bring the Company under enhanced regulatory scrutiny; and (iii) as a result, Trivago’s public statements were materially false and misleading.
Specifically, on October 27, 2017, the U.K.’s Competition and Markets Authority (“CMA”) announced that it was investigating Trivago. Specifically, the CMA cited concerns about the clarity, accuracy and presentation of information on sites, which could mislead customers. In addition, the CMA stated that it would examine how hotels were ranked, whether results were influenced by how much commission a hotel pays over the customer’s requirements, the use of “pressure selling,” and hidden charges.
On this news, Trivago’s ADR price fell from $7.93 per share on October 26, 2017 to a closing price of $7.57 on October 27, 2017—a $0.36 or a 4.54% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Trivago’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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SOURCE Faruqi & Faruqi, LLP
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