Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Domino's Pizza, Inc. (DPZ) Investors

Business Wire 1-Oct-2024 4:22 PM

Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Domino's Pizza, Inc. ("Domino's" or the "Company") (NYSE:DPZ) securities between December 7, 2023 and July 17, 2024, inclusive (the "Class Period"). Domino's investors have until November 19, 2024 to file a lead plaintiff motion.

If you suffered a loss on your Domino's investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Dominos-Pizza-Inc-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On July 18, 2024, Domino's released its second quarter 2024 financial results, disclosing that it "expects it will fall 175 to 275 stores below its 2024 goal of 925+ net stores in international primarily as a result of challenges in both openings and closures being faced by Domino's Pizza Enterprises (‘DPE'), one of its master franchisees."

On this news, Domino's stock price fell $64.23, or 13.6%, to close at $409.04 per share on July 18, 2024, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) DPE, the Company's largest master franchisee, was experiencing significant challenges with respect to both new store openings and closures of existing stores; (2) as a result, Domino's was unlikely to meet its own previously issued long-term guidance for annual global net store growth; (3) accordingly, Domino's business and/or financial prospects were overstated; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Domino's securities during the Class Period, you may move the Court no later than November 19, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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