StockNews.AI
GO
StockNews.AI
179 days

Levi & Korsinsky Notifies Shareholders of Grocery Outlet Holding Corp.(GO) of a Class Action Lawsuit and an Upcoming Deadline

1. Class action lawsuit alleges securities fraud against GO investors. Lawsuit covers Nov 2023-May 2024. 2. Financial results missed expectations; lowered guidance announced. Unexpected transition costs cited. 3. Stock fell 19.38% in one day after poor Q1 performance. Investor losses triggered legal action. 4. No-cost legal participation for affected investors. Compensation may be available without fees.

4m saved
Insight
Article

FAQ

Why Bearish?

The lawsuit highlights past financial missteps and potential legal liabilities that could further depress GO's stock price, similar to cases where legal setbacks have led to sustained declines.

How important is it?

The legal action, tied to significant financial underperformance and a sharp stock drop, signals potential future risks which could influence GO's valuation over an extended period.

Why Long Term?

Lawsuits of this nature can drag on, affecting investor sentiment and long-term valuation; historical cases show lasting reputational and financial damage.

Related Companies

WMTKR
NEW YORK, Feb. 21, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Grocery Outlet Holding Corp. ("Grocery Outlet" or the "Company") (NASDAQ: GO) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Grocery Outlet investors who were adversely affected by alleged securities fraud between November 7, 2023 and May 7, 2024. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/grocery-outlet-holding-corp-lawsuit-submission-form?prid=130864&wire=4 GO investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. CASE DETAILS: According to the complaint, 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 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? If you suffered a loss in Grocery Outlet during the relevant time frame, 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 a lead plaintiff. NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. CONTACT:Levi & Korsinsky, LLP Joseph E. Levi, Esq.Ed Korsinsky, Esq.33 Whitehall Street, 17th FloorNew York, NY 10004[email protected]Tel: (212) 363-7500Fax: (212) 363-7171www.zlk.com SOURCE Levi & Korsinsky, LLP

Related News