Case Summary
Grocery Outlet
NASDAQ: GO
Case Details
- Liberato v. Grocery Outlet Holding Corp. et al.
- Class Period:November 7, 2023 - May 7, 2024
- Date Filed:January 30, 2025
- Jurisdiction:U.S. District Court, Northern District of California
- Docket Number: 3:25-cv-00957
- Lead Plaintiff Deadline: March 31, 2025
Seek Plaintiff 51
Overview
A class action lawsuit has been filed against Grocery Outlet Holding Corp. (“Grocery Outlet” or the “Company”) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws. The Company’s common stock trades in an efficient market on the NASDAQ under the ticker symbol “GO.”
The Grocery Outlet class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Grocery Outlet securities between November 7, 2023, to May 7, 2024, both dates inclusive (the “Class Period”). Investors have until March 31, 2025, to seek appointment as lead plaintiff in the Grocery Outlet class action lawsuit.
Grocery Outlet is a value retailer of consumables and fresh products sold via a network of independently operated stores across the United States.
The Grocery Outlet class action lawsuit alleges that Defendants provided investors with material information concerning Grocery Outlet’s expected profit for fiscal year 2024. Defendants’ statements included, among other things, confidence in the Grocery Outlet’s ability to successfully upgrade and transition the Company’s internal systems in a timely and effective manner, while minimizing the risks associated with the ongoing setbacks the Company was experiencing with regard to the transition.
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 concerning the true state of Grocery Outlet’s transition to new and upgraded systems; notably, that the Company was either not truly equipped to timely and effectively execute on the transition or otherwise failed to disclose the potential for significant setbacks to Grocery Outlet’s profitability as a result of delays and implementation issues which impacted the Company’s visibility and performance. Such statements, absent these material facts caused Plaintiff and other shareholders to purchase Grocery Outlet’s securities at artificially inflated prices.
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If you purchased or otherwise acquired Grocery Outlet securities between November 7, 2023, to May 7, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page.
You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected].
The deadline to apply to the Court to serve as lead plaintiff in the Grocery Outlet class action lawsuit is March 31, 2025.