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INVESTOR ALERT: Shareholder Class Action Lawsuit Filed Against Domino's Pizza, Inc. (NYSE: DPZ); DiCello Levitt LLP Encourages Investors with Losses to Discuss Their Options with Counsel
DPZDomino’s Pizza(DPZ) GlobeNewswire News Room·2024-09-27 18:47

Core Viewpoint - A class action lawsuit has been filed against Domino's Pizza, Inc. and certain senior executives for alleged violations of federal securities laws during the Class Period from December 7, 2023, to July 17, 2024 [1][2]. Summary by Sections Lawsuit Details - Investors have until November 22, 2024, to seek appointment as lead plaintiff in the class action lawsuit [2]. - The lawsuit is on behalf of all persons and entities who purchased or acquired Domino's securities during the specified Class Period [1]. Allegations Against the Company - The lawsuit alleges that Domino's made materially false and misleading statements regarding its growth and financial prospects throughout the Class Period [5]. - During the 2023 Investor Day, Domino's provided long-term guidance of "1,100+" annual global net store growth, which was reaffirmed multiple times [5]. - The truth revealed on July 18, 2024, indicated that Domino's expected to fall 175 to 275 stores below its 2024 goal of 925+ net stores due to challenges faced by its largest master franchisee, Domino's Pizza Enterprises [7]. Impact of the Allegations - Following the revelation of the challenges, Domino's stock price fell by $64.23 per share, or 13.6%, closing at $409.04 per share on July 18, 2024 [7].