Law Offices of Howard G. Smith announces an investigation on behalf of LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (NASDAQ: LUXH) investors concerning the Company’s possible violations of federal securities laws.
On January 17, 2024, Bleeker Street published a report alleging, among other things, that LuxUrban had not signed the lease for the Royalton Hotel in New York, as it had claimed. The report also alleged that there have been several lawsuits accusing LuxUrban of not paying rent and owing landlords large sums of unpaid rent.
On this news, LuxUrban’s stock price fell $1.01, or 20.6%, over two consecutive trading days to close at $3.89 per share on January 18, 2024, thereby injuring investors.
Then, on February 5, 2024, LuxUrban announced the “termination of discussions to add the Royalton Hotel to its roster of properties.”
On this news, LuxUrban’s stock price fell $0.99, or 22%, to close at $3.50 per share on February 5, 2024, thereby injuring investors further.
If you purchased LuxUrban securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240208010241/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
