INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Grocery Outlet Holding Corp of Class Action Lawsuit and Upcoming Deadlines - GO

PRNewswire 25-Feb-2025 4:38 PM

NEW YORK, Feb. 25, 2025 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Grocery Outlet Holding Corp. ("Grocery Outlet" or the "Company") (NASDAQ:GO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Grocery Outlet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until March 31, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you are an investor who purchased or otherwise acquired Grocery Outlet securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action] 

On May 7, 2024, Grocery Outlet announced its financial results for the first quarter of 2024. Among other items, Grocery Outlet provided significantly below-expectation guidance for the second quarter and further reduced its guidance for the full fiscal year 2024. The Company attributed its results and lowered guidance to "unforeseen systems transition costs that surfaced at the end of the quarter" and the resulting "residual expense from our commission support program as we finish store physical inventory counts in the second quarter." 

On this news, Grocery Outlet's stock price fell $5.02 per share, or 19.38%, to close at $20.88 per share on May 8, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980

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SOURCE Pomerantz LLP