GO Investor Alert: Class Action Lawsuit Against Grocery Outlet Holding Corp.

NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) -- An important investor update: Bronstein, Gewirtz & Grossman, LLC, a well-established law firm, has announced a class action lawsuit against Grocery Outlet Holding Corp. ("Grocery Outlet" or "the Company") with NASDAQ ticker GO and several of its executives.

Class Definition

This class action aims to recover financial losses attributed to alleged violations of federal securities laws for individuals and entities that purchased or acquired Grocery Outlet securities during the time frame from November 7, 2023, to May 7, 2024 (inclusive) referred to as the "Class Period." Investors who fall within this category are encouraged to join the case by heading to the law firm’s website: bgandg.com/GO.

Case Details

The allegations in the Complaint indicate that on May 7, 2024, after the market closed, Grocery Outlet publicly disclosed its financial performance for the first quarter of fiscal 2024. The results were substantially lower than market expectations, leading to a poor outlook for the upcoming second quarter and an overall reduction in projected earnings for the fiscal year 2024. The Company attributed the disappointing results to unexpected transitional costs associated with system upgrades occurring at the end of the quarter, as well as extra expenses linked to its commission support program while completing inventory counts in the second quarter.

Following this announcement, Grocery Outlet's stock price plummeted to $20.88 per share the next day, May 8, 2024, marking a notable drop of about 19.38% within just one day.

What’s Next?

A formal class action lawsuit has already been initiated. Investors who wish to review the details of the Complaint can check the law firm’s website: bgandg.com/GO, or contact Peretz Bronstein, Esq., or Client Relations Manager Nathan Miller of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you experienced financial losses related to Grocery Outlet, you have until March 31, 2025, to express your interest in being appointed as the lead plaintiff in the case. Note that you do not need to serve as lead plaintiff to be part of any potential recovery.

No Cost to You

The law firm represents investors in class actions on a contingency fee basis, which means they only recover their expenses and attorney fees if they win the case. The fees typically involve a percentage of the total recovery.

Why Choose Bronstein, Gewirtz & Grossman?

Bronstein, Gewirtz & Grossman, LLC is a highly regarded firm with a successful track record in representing investors. They have recovered hundreds of millions of dollars for investors who have faced securities fraud and derivative lawsuits nationwide.

For updates and more information, you can follow the firm on LinkedIn, Twitter, Facebook, or Instagram.

Contact Information

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Nathan Miller

332-239-2660 | [email protected]

lawsuit, securities, investors