Trivago N.V.
Company Name | Trivago N.V. |
Stock Symbol | TRVG |
Class Period | December 16, 2016 to October 27, 2017 |
Lead Plaintiff Motion Deadline | December 29, 2017 |
On December 16, 2016, the Company completed its initial public offering ("IPO"), issuing 26,110,118 American Depositary Receipts ("ADRs") at $11.00 per ADR. Then, on October 27, 2017, the United Kingdom's Competition and Markets Authority ("CMA") announced that it was investigating the manner in which Trivago displays information to customers.
On this news, Trivago's shares dropped $0.36 per share, or 4.54%, to close at $7.57 on October 27, 2017, thereby damaging investors.
The complaint filed in this class action alleges that during the Class Period Trivago made materially false and/or misleading statements and/or failed to disclose that: (1) Trivago engaged in deceptive sales practices; (2) such practices were almost certain to bring Trivago under enhanced regulatory scrutiny; and (3) as a result of the foregoing, Trivago’s public statements were materially false and misleading at all relevant times.
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