#United States #New York #Gross Law Firm #stock class action #Grocery Outlet

Legal Notice for Grocery Outlet Shareholders

The Gross Law Firm has issued a crucial notice for the shareholders of Grocery Outlet Holding Corp. (NASDAQ: GO). This information is particularly relevant for those who purchased shares in the specified timeframe which runs from November 7, 2023, to May 7, 2024. The firm encourages affected shareholders to reach out to discuss potential opportunities for lead plaintiff appointments in connection to a class action lawsuit.

Context of the Case

On May 7, 2024, Grocery Outlet reported its financial results for the first quarter of fiscal 2024, which fell significantly short of market expectations. Moreover, the company downgraded its guidance for the second quarter and for the fiscal year 2024 as a whole, attributing these disappointing results to "unforeseen systems transition costs" that emerged at the end of the quarter. Furthermore, they indicated ongoing costs related to their commission support program as a contributing factor while performing physical inventory counts in their stores.

The immediate aftermath of the announcement was drastic; on May 8, 2024, the company’s stock price plummeted to $20.88 per share, representing a staggering decline of approximately 19.38% in just a day.

Important Deadline and Next Steps

Shareholders are advised not to delay in registering for this class action. The deadline to register your information is March 31, 2025. Through this registration process, you will be enrolled in a portfolio monitoring system that will provide updates regarding the status of your case. Importantly, participating in this effort does not require you to serve as a lead plaintiff, and there are no associated costs or obligations.

Why Engage the Gross Law Firm?

The Gross Law Firm comprises nationally recognized attorneys adept in representing investors who have endured losses related to deceitful business practices. Their mission is rooted in safeguarding the rights of shareholders and ensuring corporations uphold responsible business conduct. The firm actively seeks compensation for investors who have suffered due to misleading statements made by companies which led to an inflated stock value at the expense of honest shareholders.

If you are a shareholder of Grocery Outlet and believe you may qualify for class action recovery related to this incident, prompt action is essential. Reach out to The Gross Law Firm as soon as possible to explore your rights and options.

Contact Information

For any inquiries related to this notice or to register your participation, you may get in touch directly with The Gross Law Firm at:

• - Address: 15 West 38th Street, 12th Floor, New York, NY 10018
• - Email: info@grosslawfirm.com
• - Phone: (646) 453-8903

Conclusion

In light of this severe dip in stock value and underlying financial concerns at Grocery Outlet, it is imperative for shareholders to remain informed and take action. Time is of the essence, and reaching out to The Gross Law Firm could be your next step toward asserting your shareholder rights.