SAN DIEGO, March 25, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of LuxUrban Hotels Inc. (NASDAQ: LUXH). The LuxUrban class action lawsuit aims to recoup financial losses suffered by investors. Johnson Fistel LLP, a top law firm, can help you become the lead plaintiff. Stay updated on the lawsuit by checking for the latest news.
The class action is on behalf of shareholders who purchased or otherwise acquired securities between November 8, 2023 and February 2, 2024. Investors have until April 12, 2024, to move the Court to serve as lead plaintiff in this action. SUBMIT YOUR INFORMATION NOW!
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) LuxUrban had not signed a lease with the Royalton Hotel, a four star hotel located in New York; (2) as a result, LuxUrban's total reported units was overstated; (3) LuxUrban faced multiple lawsuits for unpaid rent; and (4) as a result of the foregoing, defendants' positive statements about LuxUrban's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. Join the class action suit as potential lead plaintiff. No cost or obligation. Claim your rights.
Investor Action Steps: Shareholders who sustained financial losses during the designated class period are entitled to petition the court, until April 12, 2024, to secure the position of a lead plaintiff in this proceeding. The lead plaintiff assumes the responsibility of representing the collective interests of all class members, guiding the direction of the class-action lawsuit. This pivotal role allows the lead plaintiff the autonomy to appoint a legal firm of their preference to pursue litigation in the class-action case.
About Johnson Fistel, LLP | Top Law Firm, Securities Fraud, Investors Rights:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, LLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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