Ongoing Investigation into United Natural Foods by Kahn Swick & Foti Law Firm

Ongoing Investigation into United Natural Foods

Kahn Swick & Foti, LLC, represented by former Louisiana Attorney General Charles C. Foti, Jr., is actively investigating United Natural Foods, Inc. (NYSE: UNFI). This inquiry follows significant financial setbacks disclosed by the company, highlighting issues that shareholders and investors need to be aware of.

In March 2023, United Natural Foods revealed alarming financial results, including a $6 million year-over-year decline in gross profit, coupled with a significant 71% drop in net income. These figures were particularly concerning given that the company still managed a 6% increase in net sales during the same period. The resulting financial guidance was revised downward, slashing around $115 million from its adjusted EBITDA guidance, largely attributed to challenges such as supply chain volatility and a slowdown in inflation rates.

These financial revelations triggered a class-action lawsuit against the company and some of its executives, accusing them of failing to disclose crucial information during a specified period, thereby violating federal securities laws. The court has recently allowed this case to proceed by denying the Company’s Motion for Judgment on the Pleadings.

Kahn Swick & Foti's investigation will scrutinize whether any officers or directors at United Natural breached their fiduciary responsibilities to shareholders or contravened state or federal laws through their actions or inaction during these turbulent times. Investors and shareholders have been increasingly concerned about the implications of these findings on their investments.

As KSF continues its exploration into these matters, they urge anyone with pertinent information or long-term holders of United Natural shares to reach out, either by calling their toll-free number or visiting their website. This outreach is crucial for anyone who may wish to discuss their legal rights or provide more context to the investigation.

About Kahn Swick & Foti, LLC

Kahn Swick & Foti, LLC is recognized among the premier boutique securities litigation firms in the U.S. They have gained prominence for their commitment to seeking justice for public and private investors affected by corporate misconduct. Their track record includes significant settlements, ranking them among the top 10 plaintiff law firms according to ISS Securities Class Action Services.

With a focus on recovering investment losses tied to corporate fraud, KSF represents a diverse client base, including institutional and retail investors. Their offices span several states, ensuring comprehensive services to clients across the nation.

For anyone concerned about their investments in United Natural Foods, understanding the ongoing investigation and its implications is paramount. Keeping abreast of legal developments and shareholder rights is crucial during this tumultuous period for the company. For more information, visit Kahn Swick & Foti’s website.