San Diego, CA -- (SBWire) -- 09/13/2023 --Certain directors of Toast, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Toast, Inc. (NYSE: TOST) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Toast, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Boston, MA based Toast, Inc. operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland.
Toast, Inc. sold 25 million shares at $40.00 per share in its initial public offering ("IPO") in September 2021.
On February 15, 2022, Toast, Inc. announced its fourth quarter and full year 2021 financial results. Toast, Inc. (NYSE: TOST) reported that its annual Total Revenue rose from $823.13 million in 2020 to $1.7 billion in 2021, and that its Net Loss increased from $248.2 million in 2020 to $487 million in 2021.
Shares of Toast, Inc. (NYSE: TOST) declined to as low as $11.91 per share on May 12, 2022.
On February 16, 2023, Toast, Inc. announced its fourth quarter and full year 2022 financial results. Toast, Inc. (NYSE: TOST) reported that its annual Total Revenue rose from $1.7 billion in 2021 to over $2.73 billion in 2022, and that its Net Loss decreased from $487 million in 2021 to $275 million in 2022.
Then, on July 19, 2023, Toast, Inc. 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.
Shares of Toast, Inc. (NYSE: TOST) declined from $27.00 per share on July 18, 2023 to $20.05 per share on August 04, 2023.
Those who purchased shares of Toast, Inc. (NYSE: TOST) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NYSE:TOST Investor Alert: Investigation over Potential Wrongdoing at Toast, Inc.
An investigation on behalf of investors in Toast, Inc. (NYSE:TOST) shares over potential wrongdoing at Toast, Inc. was announced.