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DPZ Class Action Notice: Robbins LLP Reminds Stockholders of the Lead Plaintiff Deadline in the Dominio's Pizza, Inc. Securities Class Action
Domino’s PizzaDomino’s Pizza(US:DPZ) GlobeNewswire News Room·2024-09-30 17:48

Core Viewpoint - A class action lawsuit has been filed against Domino's Pizza, Inc. for allegedly misleading investors regarding its growth projections during a specified period [1][2]. Group 1: Allegations and Challenges - The lawsuit claims that Domino's failed to disclose significant challenges faced by its largest master franchisee, Domino's Pizza Enterprises (DPE), affecting new store openings and closures [2]. - As a result of these challenges, Domino's is unlikely to meet its previously issued long-term guidance for annual global net store growth, leading to overstated business and financial prospects [2]. Group 2: Financial Impact - On July 18, 2024, Domino's announced it expects to fall 175 to 275 stores short of its 2024 goal of over 925 net stores internationally, primarily due to DPE's challenges [3]. - Following this announcement, Domino's stock price dropped by $64.23 per share, or 13.57%, closing at $409.04 per share on the same day [3]. Group 3: Legal Proceedings - Shareholders interested in participating in the class action must submit their application to the court by November 19, 2024, to serve as lead plaintiff [4]. - A lead plaintiff represents other class members in directing the litigation, but participation is not required to be eligible for recovery [4].