Pomerantz Law Firm Announces the Filing of a Class Action against Trivago N.V., Inc. and Certain Officers – TRVG
10/30/2017 | 03:59pm EDT
NEW YORK, Oct. 30, 2017 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Trivago N.V., Inc. (“Trivago” or the “Company”) (NASDAQ:TRVG) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and docketed under 17-cv-08348, is on behalf of a class consisting of investors who purchased or otherwise acquired Trivago’s American Depositary Receipts (“ADRs”): (1) pursuant and/or traceable to Trivago’s false and misleading Registration Statement and Prospectus, issued in connection with the Company’s initial public offering on or about December 16, 2016 (the “IPO” or the “Offering”); and/or (2) on the open market between December 16, 2016 and October 26, 2017, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”).
If you are a shareholder who purchased Trivago securities between December 16, 2016 and October 26, 2017, both dates inclusive, you have until December 29, 2017, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
Trivago N.V. provides online hotel search platform. The Company, through its platform, offers price information, reviews, photos, booking, and other travel services. Trivago serves customers worldwide and is a subsidiary of Expedia, Inc.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company engaged in deceptive sales practices; (ii) such practices were nearly certain to bring Trivago under enhanced regulatory scrutiny; and (iii) as a result of the foregoing, Trivago’s public statements were materially false and misleading at all relevant times.
On October 27, 2017, the U.K.’s Competition and Markets Authority (“CMA”) announced that it was investigating the manner in which Trivago displays information to customers. Specifically, the CMA cited concerns about the clarity, accuracy and presentation of information on sites, which could mislead customers. The CMA said 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 ADRs fell $0.36, or 4.54%, to close at $7.57 on October 27, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com