According to the lawsuit, during the Class Period, defendants created the false impression that they possessed reliable information pertaining to the completion of Grocery Outlet’s System Transition and any potential negative impact resulting therefrom, while also minimizing the risks associated with potential and perceived setbacks to Grocery Outlet’s finances as a result of implementation errors and other issues surrounding the System Transition. In truth, defendants’ repeated indications as to both when the Systems Transition would be completed and how significantly it would impact Grocery Outlet’s sales and margins fell short of reality as the defendants relied far too heavily on their ability to implement these new or otherwise upgraded systems without significant setbacks to Grocery Outlet’s finances. Grocery Outlet was simply not equipped to properly execute on the transition as planned and communicated to investors, despite repeated assurances that the issues would be resolved and the transition completed with each coming quarter.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
