Trivago NV – ADR (NASDAQ:TRVG) Investor Securities Class Action Lawsuit 10/30/2017

If you purchased shares of Trivago NV – ADR (NASDAQ:TRVG) , you have certain options and for certain investors are short and strict deadlines running. Deadline: December 29, 2017. NASDAQ:TRVG investors should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Case Name: 
Trivago Shareholder Class Action Lawsuit 10/30/2017
Case Status: 
Lawsuit Filed
Case Status: 
Case Dismissed
Affected Securities
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
Class Period Begin: 
Class Period End: 
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 

02.27.2019 - The court dismissed the case.

An investor in shares of Trivago NV – ADR (NASDAQ:TRVG) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Trivago NV in connection with certain allegedly false and misleading statements made between December 16, 2016 and October 26, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Trivago NV – ADR (NASDAQ:TRVG) common shares between December 16, 2016 and October 26, 2017, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between December 16, 2016 and October 26, 2017, the 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.

Trivago NV is a company that operates an online hotel search platform that allows users to search for, compare and book hotels. It went public in late 2016. Shares of Trivago NV – ADR (NASDAQ:TRVG) reached as high as $14.20 per share on February 21, 2017.

On March 9, 2017, Trivago NV disclosed to investors a material weakness in internal controls, citing lack of sufficient accounting personnel with appropriate level of accounting experience and training. Trivago NV further announced that it plans to expand accounting policies and procedures to remediate weakness.

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 Competition and Markets Authority cited concerns about the clarity, accuracy and presentation of information on sites, which could mislead customers. The Competition and Markets Authority 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.

Shares of Trivago NV – ADR (NASDAQ:TRVG) declined from $24.07 per share in July 2017 to as low as $7.23 per share on November 1, 2017.