United Natural Foods Investigation Continued: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of United Natural Foods, Inc. - UNFI

Core Viewpoint - Kahn Swick & Foti, LLC is investigating United Natural Foods, Inc. for potential breaches of fiduciary duties by its officers and directors, following significant financial declines and a securities class action lawsuit against the company [1][3]. Financial Performance - In March 2023, United Natural reported a year-over-year decline of $6 million in gross profit and over 71% in net income and earnings per diluted share for its fiscal 2023 second quarter, despite a 6% increase in net sales [2]. - The company reduced its adjusted EBITDA guidance by approximately $115 million, or about 13.3%, primarily due to lower procurement and inventory gains, influenced by supply chain volatility and a slowdown in inflation rates [2]. Legal Issues - Following the financial disclosures, United Natural and certain executives faced a securities class action lawsuit for allegedly failing to disclose material information, violating federal securities laws [2]. - A court has denied the company's Motion for Judgment on the Pleadings, allowing the lawsuit to proceed [2]. Investigation Focus - KSF's investigation is centered on whether United Natural's leadership breached their fiduciary duties to shareholders or violated state or federal laws [3].