A Securities Fraud Lawsuit Has Been Filed Against Grocery Outlet Holding Corp. And Investors With Losses Are Urged To Contact The Schall Law Firm

NEW YORK, NY / ACCESS Newswire / February 23, 2025 / If you suffered a loss on your Grocery Outlet Holding Corp. investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:

https://zlk.com/pslra-1/grocery-outlet-holding-corp-lawsuit-submission-form?prid=131562&wire=1

or contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or call (212) 363-7500 to speak to our team of experienced shareholder advocates.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Grocery Outlet To Contact Him Directly To Discuss Their Options

NEW YORK, NY / ACCESS Newswire / February 23, 2025 / If you purchase securities in Grocery Outlet between November 7, 2023 and May 7, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Grocery Outlet Holding Corp. ("Grocery Outlet" or the "Company") and reminds investors of the March 31, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Grocery Outlet's transition to new and upgrad systems; notably, that the Company was either not truly equipped to timely and effectively execute on the transition or otherwise failed to disclose the potential for significant setbacks to Grocery Outlet's profitability as a result of delays and implementation issues which impacted the Company's visibility and performance.

On May 7, 2024, Grocery Outlet reported 1Q 2024 earnings that fell well below expectations and then lowered its guidance for the year. Management attributed the decrease to disruptions resulting from the implementation of new technology platforms in August 2023 and self-imposed commission support, following the system upgrade challenges. Analysts expressed concern at the Company's slower-than-expected system upgrade, which has caused issues in product and data visibility, as well as operating challenges.

Following this news, Grocery Outlet's stock price fell by $5.02 per share, or approximately 19.38% to close at $20.88 per share on May 8, 2024.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Grocery Outlet's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Grocery Outlet class action, go to www.faruqilaw.com/GO or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

View the original press release on ACCESS Newswire

NEW YORK, NY / ACCESS Newswire / February 23, 2025 / If you suffered a loss on your Grocery Outlet Holding Corp. investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:

https://zlk.com/pslra-1/grocery-outlet-holding-corp-lawsuit-submission-form?prid=131532&wire=1

or contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or call (212) 363-7500 to speak to our team of experienced shareholder advocates.

NEW YORK, NY / ACCESS Newswire / February 23, 2025 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Grocery Outlet Holding Corp. ("Grocery Outlet" or "the Company") and certain of its officers.

Class Definition

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Grocery Outlet securities between November 7, 2023 and May 7, 2024, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/GO.

Case Details

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.

What's Next?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/GO. or you may contact Peretz Bronstein, Esq. If you suffered a loss in Grocery Outlet 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 lead plaintiff.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

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Attorney advertising. Prior results do not guarantee similar outcomes.

Contact

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Nathan Miller

SOURCE: Bronstein, Gewirtz & Grossman, LLC

View the original press release on ACCESS Newswire