GO INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Grocery Outlet Holding Corp. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
1. Class action lawsuit filed against Grocery Outlet for securities law violations.
2. Allegations stem from Q1 2024 results and guidance failures.
3. Stock plummeted 19.38% to $20.88 following earnings report.
4. Law firm encourages affected investors to join the lawsuit.
5. The lawsuit period covers from November 7, 2023 to May 7, 2024.
NEW YORK, Feb. 3, 2025 /PRNewswire/ -- Attorney Advertising
Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Grocery Outlet Holding Corp. ("Grocery Outlet" or "the Company") (NASDAQ: GO) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Grocery Outlet securities between November 7, 2023 and May 7, 2024, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/GO.
Case Details
The Complaint alleges that after-market on May 7, 2024, Grocery Outlet announced its financial results for the first quarter of fiscal 2024, published significantly below-expectation guidance for the second quarter, and further reduced its guidance for the full fiscal year 2024. The Complaint states that the Company attributed its results and lowered guidance on "unforeseen systems transition costs that surfaced at the end of the quarter" and the resulting "residual expense from our commission support program as we finish store physical inventory counts in the second quarter." Following this news, Grocery Outlet's stock price fell to $20.88 per share on May 8, 2024, a decline of about 19.38% in the span of just a single day.
What's Next?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/GO or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Grocery Outlet you have until March 31, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
