Grocery Outlet(US:GO) Globenewswire·2025-03-13 16:58Core Viewpoint - Grocery Outlet Holding Corp. is facing a class action securities lawsuit due to alleged securities fraud that affected investors between November 7, 2023, and May 7, 2024 [1] Group 1: Case Details - On May 7, 2024, Grocery Outlet announced its Q1 fiscal 2024 financial results, which were significantly below expectations, and it lowered guidance for Q2 and the full fiscal year 2024 [2] - The company cited "unforeseen systems transition costs" and "residual expense from our commission support program" as reasons for the disappointing results and lowered guidance [2] - Following the announcement, Grocery Outlet's stock price dropped to $20.88 per share on May 8, 2024, marking a decline of approximately 19.38% in one day [2] Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until March 31, 2025, to request appointment as lead plaintiff in the lawsuit [3] - Participation in the lawsuit does not require serving as a lead plaintiff, and there are no out-of-pocket costs for class members [3] Group 3: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4]