INVESTOR DEADLINE MONDAY: Robbins Geller Rudman & Dowd LLP Announces that Lamb Weston Holdings, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - LW

Core Viewpoint - The Lamb Weston Holdings, Inc. is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, primarily related to the problematic implementation of a new Enterprise Resource Planning (ERP) system, which has resulted in significant financial losses for the company [1][4][5]. Company Overview - Lamb Weston is a food processing company and a major producer of frozen potato products [3]. Class Action Details - The class action lawsuit is titled Cleveland Bakers and Teamsters Pension Fund v. Lamb Weston Holdings, Inc., and it covers purchasers of Lamb Weston shares from July 25, 2023, to April 3, 2024 [1]. - Investors have until August 12, 2024, to seek appointment as lead plaintiff in the lawsuit [2][6]. Allegations Against the Company - The lawsuit alleges that Lamb Weston and its executives made false or misleading statements regarding the readiness and implementation of the ERP system [4]. - It is claimed that the company was aware of issues with the ERP system that would hinder its successful implementation but proceeded with the rollout anyway [4]. - On April 4, 2024, Lamb Weston disclosed significant problems with the ERP system, leading to a loss of over $130 million in sales during Q3 of fiscal 2024 and a reduction in sales guidance by $330 million [5]. Financial Impact - Following the disclosure of the ERP issues, Lamb Weston’s stock price fell by more than 19% [5].