Investors who lost money with shares in Grocery Outlet Holding Corp. (NASDAQ: GO) should contact the Shareholders Foundation

An investor, who purchased shares of Grocery Outlet Holding Corp. (NASDAQ: GO), filed a lawsuit over alleged violations of Federal Securities Laws by Grocery Outlet Holding Corp. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Grocery Outlet Holding Corp. (NASDAQ: GO) have certain options and for certain investors are short and strict deadlines running. Deadline: March 31, 2025. NASDAQ: GO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Emeryville, CA based Grocery Outlet Holding Corp. (NASDAQ: GO) reported that its annual Total Revenue rose from over $3.57 billion in 2022 to over $39.6 billion in 2023, and that its Net Income increased from $65.05 million in 2022 to $79.43 million in 2023.

On May 7, 2024, Grocery Outlet Holding Corp. announced its financial results for the first quarter of fiscal 2024, published 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 on "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."

Shares of Grocery Outlet Holding Corp. (NASDAQ: GO) declined from $29.19 per share on February 28, 2024, to as low as $13.60 per share on October 30, 2024.

T he plaintiff claims that between November 7, 2023, to May 7, 2024, the 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. This lawsuit seeks to recover damages caused by Defendants' alleged violations of federal securities laws.

Those who purchased shares of Grocery Outlet Holding Corp. (NASDAQ: GO) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.