Important Notice for Shareholders of Grocery Outlet Holding Corp. (GO)
NEW YORK, Feb. 13, 2025 /PRNewswire/ — The Gross Law Firm, a leading national shareholder rights law firm, issues the following notice to all persons who purchased shares of Grocery Outlet Holding Corp. (GO) during the period between March 1, 2023, and Aug. 15, 2024, inclusive (the “Class Period”).
Background
Grocery Outlet Holding Corp. is a North American food retailer that operates under the “Grocery Outlet” and “Marc’s” brands. The Company’s stores offer a unique shopping experience with a focus on value and variety. However, on August 16, 2024, the Company disclosed that it was under investigation by the Securities and Exchange Commission (SEC) regarding certain accounting matters.
Class Action Lawsuit Filed
Following this news, a class action lawsuit was filed against Grocery Outlet Holding Corp. in the United States District Court for the Northern District of California alleging violations of the Securities Exchange Act of 1934. The complaint alleges that the defendants made false and misleading statements and failed to disclose material information during the Class Period, thereby artificially inflating the price of the Company’s shares.
Effect on Shareholders
If you purchased shares of Grocery Outlet Holding Corp. during the Class Period, you may be entitled to compensation. The lead plaintiff is the proposed representative for all persons or entities that purchased or otherwise acquired securities of the Company during the Class Period. The lead plaintiff will act on behalf of all class members in managing the litigation. If you wish to join the class, you must provide your contact information to The Gross Law Firm by March 15, 2025.
Effect on the World
The impact of this class action lawsuit on the world may depend on the outcome of the litigation. If the allegations are proven, investors in the Company may seek damages for their losses. Additionally, the investigation and lawsuit may lead to increased scrutiny of the Company’s business practices and financial reporting.
Conclusion
Shareholders of Grocery Outlet Holding Corp. who purchased shares during the Class Period are encouraged to contact The Gross Law Firm regarding possible lead plaintiff appointment. The outcome of this litigation may provide compensation for investors and potentially lead to changes in the Company’s business practices. For more information, please visit the firm’s website or contact The Gross Law Firm at 888-229-9115.
- Grocery Outlet Holding Corp. under investigation by SEC
- Class action lawsuit filed against the Company
- Shareholders who purchased shares during the Class Period may be entitled to compensation
- Lead plaintiff will manage the litigation on behalf of all class members
- Outcome of litigation may provide compensation and lead to changes in Company’s business practices
