According to the lawsuit, during the Class Period, defendants provided investors with material information concerning Starbucks’ fiscal year revenue for 2023 and expected guidance for the fiscal year 2024. Defendants’ statements included, among other things, confidence in Starbucks’ Reinvention and diversification of its global portfolio, which relies largely on both Rewards customers and more occasional consumers. Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts related to Starbucks’ Reinvention strategy, comprising: a roadmap and clear plan for success outside of the US, including opening new stores; positive same-store sales; and strong local innovation in foreign economies.
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.
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