1. Grocery Outlet shareholders face potential class action over Q1 2024 results. 2. Stock dropped 19.38% post-announcement of poor earnings and lowered guidance. 3. Allegations include misleading information regarding systems transition costs. 4. Shareholders encouraged to register by March 31, 2025 for potential recovery. 5. Gross Law Firm highlights investor rights against illegal business practices.
The significant stock drop indicates loss of investor confidence, similar to past earnings miss impacts.
The class action and negative financial outlook are critical for immediate valuation.
Immediate impact from class action might cause further price volatility, similar to past legal issues.
NEW YORK, Feb. 13, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Grocery Outlet Holding Corp. (NASDAQ: GO).
Shareholders who purchased shares of GO during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
November 7, 2023 to May 7, 2024
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.
March 31, 2025. Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/grocery-outlet-holding-corp-loss-submission-form/?id=128951&from=4
Once you register as a shareholder who purchased shares of GO during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is March 31, 2025. There is no cost or obligation to you to participate in this case.
The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
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New York, NY, 10018
Email: info@grosslawfirm.com
Phone: (646) 453-8903
SOURCE The Gross Law Firm