Class Action Lawsuit Filed Against Grocery Outlet Holding Corp: Investors Alert
On February 27, 2025, Pomerantz LLP, a leading securities law firm, announced the filing of a class action lawsuit against Grocery Outlet Holding Corp. (“Grocery Outlet” or the “Company”) (NASDAQ:GO) in the United States District Court for the Northern District of California. The complaint alleges that the Company and certain of its officers and directors made materially false and misleading statements regarding Grocery Outlet’s business, operational, and financial metrics.
Allegations Against Grocery Outlet
The complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s financial statements for the fiscal years 2021 and 2022 and the first and third quarters of 2023 contained material misstatements and omissions; (ii) the Company’s store expansion strategy was not progressing as planned; and (iii) as a result, defendants’ statements about Grocery Outlet’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Impact on Investors
As a result of this news, investors who purchased or otherwise acquired the Company’s securities between March 1, 2022, and February 24, 2023, inclusive (the “Class Period”), may be entitled to recover their economic losses, including damages for loss of income, consequential damages, and interest, among other damages, through this class action. If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than [Insert Date], 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
Effect on the World
The impact of this class action lawsuit on the world at large may not be immediate, but it could potentially lead to increased scrutiny and regulatory attention on Grocery Outlet’s business practices. The lawsuit could also potentially lead to changes in corporate governance and transparency at the Company, as well as potential financial repercussions for the Company and its shareholders. This lawsuit is part of a larger trend of increased investor litigation in the wake of the COVID-19 pandemic, as markets have experienced significant volatility and uncertainty.
Conclusion
Investors who purchased or otherwise acquired Grocery Outlet Holding Corp.’s securities between March 1, 2022, and February 24, 2023, are encouraged to contact Pomerantz LLP for more information about this class action lawsuit. This is not a solicitation for investment in securities. This communication is intended to be an informational announcement regarding the lawsuit. It is not a call to action for investors to buy or sell any securities in connection with this announcement. The class action lawsuit may be subject to change in the future. For more information, contact Danielle Peyton at [email protected] or 646-581-9980, toll-free, Ext. 7979.
- Grocery Outlet Holding Corp. (NASDAQ:GO)
- Class action lawsuit
- Pomerantz LLP
- Materially false and misleading statements
- Securities litigation
- Investor alert
