Toast, Inc. (TOST)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Toast, Inc. (“Toast” or “the Company”) (NYSE: TOST). Investors who purchased Toast securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Toast has violated 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.
If you are aware of any facts relating to this investigation or purchased Toast securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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