Faruqi & Faruqi, LLP is investigating the claims on behalf of investor Chipotle Mexican Grill By Investing.com
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who have suffered losses greater than $100,000 in Chipotle to contact him directly to discuss their options
If you have suffered losses greater than $100,000 in Chipotle between February 8, 2024 and October 29, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – December 30, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Chipotle Mexican Grill, Inc. (“Chipotle” or the “Company” “) (NYSE: CMG) and reminds investors of The deadline is January 10, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the following: (1) Chipotle’s portion sizes were inconsistent and left many customers dissatisfied with the Company’s offers; (2) in order to solve the problem and maintain customer loyalty, the Company would have to provide more generous portion sizes, which would increase the cost of sales; and (3) as a result, the defendant’s statements about the business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On October 29, 2024, after the market closed, Marketwatch published an article titled “Chipotle’s New CEO Keeps Focus on Faster Service as Sales Fall.” It is stated that “[s]rabbits of Chipotle Mexican Grill Inc (NYSE:). fell after hours on Tuesday after the Mexican fast-casual chain reported weaker-than-expected quarterly sales trends and pointed to rising costs as it tries to offer more consistent portion sizes.”
Following this news, Chipotle shares fell 7.8% on October 30, 2024.
A 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 the class members and who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information about Chipotle’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.
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To view the original version of this press release, visit https://www.newsfilecorp.com/release/235539
