NEW YORK, July 25, 2023 /PRNewswire/ -- The Klein Law Firm announces that it is investigating allegations that Toast, Inc. ("Toast") (NYSE: TOST) violated federal securities laws.
CURRENT INVESTIGATION DETAILS:On or around September 22, 2021, Toast conducted its initial public offering ("IPO"), selling over 21.7 million shares priced at $40.00 per share. Then, on February 16, 2023, Toast issued a press release announcing its financial results for the fourth quarter and full year 2022. Among other items, Toast reported earnings per share of -$0.19, missing consensus estimates by $0.01. On this news, Toast's stock price fell $5.93 per share, or 22.84%, to close at $20.03 per share on February 16, 2023. Then, on July 19, 2023, Toast announced the removal of a $0.99 order processing fee from the Company's new version of its digital ordering suite. The processing fee, announced in June 2023, had prompted widespread complaints from restaurant operators. On this news, Toast's stock price fell sharply during intraday trading on July 19, 2023 from $26.76 per share on July 18, 2023 to $22.56.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of TOST investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/toast-lawsuit-loss-submission-form?id=42520&from=4.
ABOUT KLEIN LAW FIRM J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: J. Klein, Esq. 535 Fifth Avenue 4th Floor New York City, NY 10017 jk@kleinstocklaw.com Telephone: (212) 616-4899 www.kleinstocklaw.com
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Toast, Inc. offers cloud-based, end-to-end technology digital platform for the restaurant community. The Company’s platform provides a suite of software as a service (SaaS), products and financial technology solutions, including integrated payment processing, restaurant-grade hardware, and an ecosystem of third-party partners. The Company's portfolio spans several product categories, including restaurant operations and point of sale, digital ordering and delivery, marketing and loyalty, team management, supply chain and accounting, financial technology solutions, and platform and insights. The Company serves as the restaurant operating system, connecting front-of-house and back-of-house operations across dine-in, takeout, and delivery channels. The Company’s subsidiaries include Toasttab Ireland Limited, Toast Capital LLC, Toast Processing Services LLC, Toast MSC, Inc., Stratex HoldCo, LLC and OAE Software, LLC.
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