StockNews.AI
GO
StockNews.AI
180 days

Grocery Outlet Holding Corp. (GO) Investors: March 31, 2025 Filing Deadline in Securities Class Action - Contact Kessler Topaz Meltzer & Check, LLP

1. Class action lawsuit filed against GO for purchased securities Nov 2023-May 2024. 2. Defendants allegedly misled investors about systems transition risks. 3. Unexpected Q1 2024 results caused a 19.38% stock drop in one day. 4. Lead plaintiff applications accepted until March 31, 2025.

6m saved
Insight
Article

FAQ

Why Bearish?

The lawsuit and disclosure missteps led to a sudden nearly 20% drop, reminiscent of past cases where legal issues precipitated sharp declines. Historical examples include abrupt market drops following litigation revelations that eroded investor confidence.

How important is it?

The class action lawsuit directly questions management disclosures and has already led to a significant price drop, underlining its high potential to affect GO’s price further.

Why Short Term?

The immediate market reaction and rapid price decline signal short-term impact. Litigation uncertainty tends to cause near-term volatility until further developments occur.

Related Companies

RADNOR, Pa., Feb. 20, 2025 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com)  informs investors that a securities class action lawsuit has been filed against Grocery Outlet Holding Corp. ("Grocery Outlet") (NASDAQ: GO)  on behalf of those who purchased or acquired Grocery Outlet securities between November 7, 2023, and May 7, 2024, inclusive (the "Class Period"). The lead plaintiff deadline is March 31, 2025. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:     If you suffered Grocery Outlet losses, you may CLICK HERE or copy and paste the following link into your browser: https://www.ktmc.com/new-cases/grocery-outlet-holding-corp?utm_campaign=go&mktm=r You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected]. DEFENDANTS' ALLEGED MISCONDUCT:The Class Period begins on November 7, 2023, when Defendants conducted an earnings call corresponding to their third quarter fiscal year 2023 results. During the call, Defendants disclosed an ongoing systems transition (the "Systems Transition") that began in August and would be completed by the end of the year.  Defendants also provided investors with material information concerning Grocery Outlet's expected profit for fiscal year 2024. Throughout the Class Period, Defendants continued to create the false impression that they possessed reliable information pertaining to the completion of Grocery Outlet's Systems Transition and any potential negative impact resulting therefrom, while also minimizing the risks associated with potential and perceived setbacks to the company's finances as a result of implementation errors and other issues surrounding the Systems Transition. Then, on May 7, 2024, Defendants shocked the market when they released the company's first quarter fiscal year 2024 results, which surprisingly announced both a significantly larger-than-expected impact from Systems Transition issues and significantly below-market guidance for the second quarter.   As a result of the foregoing, the price of Grocery Outlet's common stock declined dramatically, from a closing price of $25.90 per share on May 7, 2024, to $20.88 per share on May 8, 2024, a decline of about 19.38% in the span of just a single day. THE LEAD PLAINTIFF PROCESS:Grocery Outlet investors may, no later than March 31, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP encourages Grocery Outlet investors who have suffered significant losses to contact the firm directly to acquire more information. CLICK HERE TO SIGN UP FOR THE CASE OR GO TO:   https://www.ktmc.com/new-cases/grocery-outlet-holding-corp?utm_campaign=go&mktm=r ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:     Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world.  The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com. CONTACT:Kessler Topaz Meltzer & Check, LLPJonathan Naji, Esq.(484) 270-1453280 King of Prussia RoadRadnor, PA 19087[email protected] May be considered attorney advertising in certain jurisdictions.  Past results do not guarantee future outcomes. SOURCE Kessler Topaz Meltzer & Check, LLP

Related News