LuxUrban Hotels, Inc.

Ticker: LUXH

Class Period Start: 11/08/2023

Class Period End: 02/02/2024

Registration Deadline: 04/12/2024

A securities class action has been filed in the USDC – S.D.N.Y. against LuxUrban Hotels, Inc. (LUXH) (“LuxUrban” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired LuxUrban securities between November 8, 2023 and February 2, 2024, both dates inclusive (the “Class Period”).

 

LuxUrban utilizes an asset light business model to lease hotels on a long-term basis and rent hotel rooms in the properties it leases. The Company leases to business and vacation travelers through the Company’s online portal and third-party sales and distribution channels, including several worldwide online travel agency (OTA) channels. The Company manages a portfolio of hotel rooms in New York, Washington D.C., Miami Beach, New Orleans, and Los Angeles.

 

The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors:

 

(1) that the Company had not signed a lease with the Royalton Hotel;

(2) that, as a result, LuxUrban’s total reported units was overstated;

(3) that LuxUrban faced multiple lawsuits for unpaid rent; and

(4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby harming investors.

 

 If you purchased LuxUrban securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

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