Trivago N.V. (NASDAQ: TRVG)
On or about December 16, 2016, Trivago completed its initial public offering of ADSs and issued approximately 26.11 million at $11 per ADS for total proceeds of over $287 million.
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 and cited concerns about the clarity, accuracy and presentation of information on sites that could mislead customers. The CMA 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.
This news drove the price of Trivago ADSs down $0.36, or 4.54%, to close at $7.57 on October 27, 2017. By this time, the price of Trivago ADSs had fallen approximately $3.43, or about 31%, from their December 16, 2016 issue price.
“We’re focused on whether Trivago reported revenues obtained through possibly illegal conduct and the damages investors have suffered,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Trivago should consider their options to help in the investigation or take advantage of the SEC whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email TRVG@hbsslaw.com.
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