NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Grocery Outlet Holding Corp. (“Grocery Outlet” or the “Company”) (NASDAQ: GO) in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased or otherwise acquired Grocery Outlet securities between November 7, 2023 and May 7, 2024, both dates inclusive (the “Class Period”). Investors have until March 31, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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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.
If you purchased or otherwise acquired Grocery Outlet shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
