Business

Market Movers

Shareholders sour on GrubHub filing

GrubHub chief Matthew Maloney during the Chicago firm’s April IPO.

Richard Drew/Associated Press/file 2014

GrubHub chief Matthew Maloney during the Chicago firm’s April IPO.

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Investors took a bite out of GrubHub Inc. after the online and mobile food ordering service filed to sell 10 million shares, giving insiders an early chance to unload their stakes after an April IPO. GrubHub plans to sell 1.25 million shares in the offering, according to an SEC filing made Monday. The remaining 8.78 million shares will be sold by insiders, including GrubHub officials, who otherwise wouldn’t be allowed to sell shares yet because of a lockup period that has been waived, GrubHub said.

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