Levi & Korsinsky Reminds Grocery Outlet Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of March 31, 2025 - GO
1. Grocery Outlet faces a class action securities lawsuit for alleged fraud.
2. The lawsuit covers losses from November 7, 2023, to May 7, 2024.
3. GO's stock fell 19.38% after disappointing Q1 results and lowered guidance.
4. Investors can participate in recovery without upfront costs.
5. Levi & Korsinsky is representing investors with a strong track record.
The significant decline in stock price following the announcement indicates negative investor sentiment and potential financial instability. Historical precedents demonstrate that securities litigations often impact stock performance adversely in the near-term.
How important is it?
The lawsuit addresses significant financial deception allegations that can severely impact investor trust and stock prices. Given the recent stock drop, this situation is highly relevant to current investors and market sentiment.
Why Short Term?
The immediate repercussions of a lawsuit often lead to volatility, particularly in the short term; however, long-term recovery may depend on case outcomes and company actions.
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:
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 Floor
New York, NY 10004 [email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171 www.zlk.com
