Johnson Fistel Investigates Starbucks Corporation (SBUX) Directors for Potential Breaches of Fiduciary Duty Related to Business Outlook and Growth Disclosures

Core Viewpoint - Johnson Fistel, PLLP is investigating potential shareholder derivative claims against Starbucks Corporation regarding alleged breaches of fiduciary duties by certain officers and directors, following a securities class action related to the company's stock performance during a specified period [1][4]. Group 1: Investigation Details - The investigation is prompted by a securities class action concerning purchases of Starbucks securities between November 2, 2023, and April 30, 2024 [1]. - Allegations include that Starbucks and certain senior executives made materially false and misleading statements and failed to disclose adverse facts, particularly regarding disappointing second-quarter fiscal 2024 results and lowered full-year guidance [4][5]. - Following the announcement of these results on April 30, 2024, Starbucks' stock price dropped from $88.49 to $74.44, a decline of over 15% in one trading day, which allegedly harmed investors [4]. Group 2: Shareholder Actions - Current Starbucks shareholders who held shares continuously before November 2, 2023, may have the standing to pursue derivative claims on behalf of the company [2]. - The investigation focuses on whether the board of directors and senior management allowed misconduct, failed to implement adequate disclosure and risk-management controls, and exposed the company to significant financial and reputational harm [5].