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NEW YORK, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired Chipotle Mexican Grill, Inc. (“Chipotle” or the “Company”) (NYSE: CMG) securities between February 8, 2024 and October 29, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws.
The Complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Chipotle’s portion sizes were inconsistent and left many customers dissatisfied with the Company’s offerings; (ii) in order to address the issue and retain customer loyalty, Chipotle would have to ensure more generous portion sizes, which would increase cost of sales; and (iii) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Chipotle should contact the Firm prior to the January 10, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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