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OFFON

DOORDASH, INC.

(DASH)
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Delayed Quote. Delayed Nyse - 10/15 04:10:00 pm
214.07 USD   +0.77%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

DoorDash : Uber, GrubHub sue NYC over fee caps

09/10/2021 | 12:30pm EDT

Third-party delivery services DoorDash, Uber and GrubHub are suing New York City over fee caps, according to a Fox Business report.

The fservices filed the suit in federal court Thursday claiming the city's permanent cap on the amount of commissions the companies can charge restaurants is harmful and constitutes "government overreach."

The city placed the cap during the pandemic to protect restaurants already devastated by the surge in COVID-19 and extended fee limits even as indoor dining reopened. The companies are suing for unspecified monetary damages and requesting a jury trial, according to Fox.

The lawsuit, filed in the U.S. District Court for the Southern District of New York, claims "the ordinance is unconstitutional because, among other things, it interferes with freely negotiated contracts between platforms and restaurants by changing and dictating the economic terms on which a dynamic industry operates," according to a Washington Post report.

The companies also filed for an injunction preventing the city from enforcing the fee caps, which were adopted in August.

Last month, the city of Chicago sued DoorDash and GrubHub, claiming the company had "deceptive and unfair" business practices.

Copyright © 2021 Networld Media. All rights reserved., source Industry News

Stocks mentioned in the article
ChangeLast1st jan.
DOORDASH, INC. 0.77% 214.07 Delayed Quote.49.96%
GRUBHUB INC. -1.90% 59.89 End-of-day quote.-19.36%
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Analyst Recommendations on DOORDASH, INC.
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Financials (USD)
Sales 2021 4 691 M - -
Net income 2021 -377 M - -
Net cash 2021 3 740 M - -
P/E ratio 2021 -185x
Yield 2021 -
Capitalization 72 342 M 72 342 M -
EV / Sales 2021 14,6x
EV / Sales 2022 12,1x
Nbr of Employees 3 886
Free-Float 90,5%
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Technical analysis trends DOORDASH, INC.
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 214,07 $
Average target price 201,85 $
Spread / Average Target -5,71%
EPS Revisions
Managers and Directors
Tony Xu Chief Executive Officer & Director
Christopher D. Payne President & Chief Operating Officer
Prabir Adarkar Chief Financial Officer
Louis John Doerr Independent Non-Executive Director
Alfred Lin Independent Non-Executive Director
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