Krispy Kreme(US:DNUT) Prnewswireยท2025-07-03 13:00Core Viewpoint - The article discusses a class action lawsuit against Krispy Kreme, Inc. (NASDAQ: DNUT) due to allegations of misleading statements regarding the demand for its products at McDonald's locations, which led to significant declines in the company's stock price [2][4]. Group 1: Allegations and Financial Impact - The class period for the lawsuit is from March 26, 2024, to May 7, 2025, during which defendants allegedly made positive statements while concealing negative facts about product demand at McDonald's [2]. - Krispy Kreme reported a net revenue decline of $404 million, a decrease of 10.4%, and a drop in average sales per store due to changing customer preferences [2]. - Following the release of disappointing fourth quarter 2024 results, Krispy Kreme's stock price fell from $9.13 per share on February 24, 2025, to $7.13 per share on February 25, 2025 [2]. - In the first quarter of 2025, the company reported net revenue of $375.2 million, a decline of 15.3% or $67.5 million, and announced a reassessment of its partnership with McDonald's [2]. - The stock price further declined from $4.33 per share on May 7, 2025, to $3.26 per share on May 8, 2025, representing a drop of about 25% in one day [2]. Group 2: Next Steps for Shareholders - Shareholders who purchased shares during the class period are encouraged to register for the class action by July 15, 2025, to potentially become lead plaintiffs [3]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the status of the case [3]. Group 3: Legal Representation - The Gross Law Firm is leading the class action and aims to protect investors' rights against deceit and fraud in business practices [4]. - The firm emphasizes its commitment to ensuring responsible business practices and seeks recovery for investors affected by misleading statements [4].