NEW YORK, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors that it has commenced an investigation of Toast, Inc. ("Toast") (: TOST) concerning possible violations of federal securities laws.
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. To obtain additional information, go to:
https://zlk.com/pslra-1/toast-lawsuit-submission-form?prid=42984&wire=3
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 4th Floor Suite #427
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
