Chipotle Lawsuit: Class Action Lawsuit Announced by Securities Fraud Firm Gilman Law LLP; Investors and Shareholders in Chipotle Mexican Grill With Losses in Excess of $100,000 Are Encouraged to Inquire About Joining the Chipotle Lawsuit at No Cost
(firmenpresse) - BOSTON, MA -- (Marketwire) -- 08/20/12 -- The announce that a lawsuit by investors has commenced in the District of Colorado (No. 12-2193) against Chipotle Mexican Grill (NYSE: CMG). The complaint alleges that Chipotle Mexican Grill ("Chipotle") issued materially false and misleading statements regarding the Company's business and prospects, allegedly causing CMG stock to trade at artificially inflated prices.
Chipotle Investors who purchased or otherwise acquired shares of Chipotle (CMG) common stock during the Class Period defined below, are encouraged to contact our Securities Fraud Attorneys to discuss your rights to recovery:
February 1, 2012 to July 19, 2012
Kenneth Gilman, Gilman Law LLP
(888) 252-0048
On July 19, 2012, Chipotle issued a press release announcing its second quarter 2012 earnings results, reporting disappointing revenue results and cautious guidance for the year. As a result of this news, Chipotle stock plunged $86.88 per share to close at $316.98 per share on July 20, 2012, a decline of 22% on volume of 9.8 million shares. This was the largest one-day stock decline in Chipotle's history.
According to the complaint, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (a) Chipotle did not have the pricing power to implement price increases sufficient to offset rising food costs and, as a result, the Company's margins would be under pressure as Chipotle would be unable to pass these commodity costs off to the consumers; (b) demand for Chipotle was slowing due to the economy and increased competition and could not support the Company's aggressive 2012 earnings forecasts; and (c) Chipotle was experiencing a deceleration of growth as it was becoming a mature company.
The have over 33 years of experience in securities law and have been involved in all major aspects of securities litigation. Our securities lawyers focus on cases involving stock manipulation, securities fraud, investments fraud, shareholder rights violations, and securities arbitration.
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Gilman Law LLP
Boston, MA
Kenneth Gilman, Esq.
(888) 252-0048
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Datum: 20.08.2012 - 19:19 Uhr
Sprache: Deutsch
News-ID 175992
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"Chipotle Lawsuit: Class Action Lawsuit Announced by Securities Fraud Firm Gilman Law LLP; Investors and Shareholders in Chipotle Mexican Grill With Losses in Excess of $100,000 Are Encouraged to Inquire About Joining the Chipotle Lawsuit at No Cost"
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