Domino’s Pizza(DPZ) GlobeNewswire News Room·2024-10-18 21:19Core Viewpoint - A class action lawsuit has been filed against Domino's Pizza, Inc. due to alleged misleading statements regarding its master franchisee's challenges, impacting the company's store growth guidance [1][2]. Group 1: Lawsuit Details - The lawsuit was filed in the U.S. District Court for the Eastern District of Michigan on behalf of investors who acquired Domino's securities from December 7, 2023, to July 17, 2024 [1]. - Investors have until November 19, 2024, to apply to be appointed as lead plaintiff in the lawsuit [1]. - The lawsuit alleges that Domino's failed to disclose significant challenges faced by its largest master franchisee, Domino's Pizza Enterprises (DPE), regarding new store openings and closures [2]. Group 2: Financial Performance and Impact - On July 18, 2024, Domino's announced it expected to fall 175 to 275 stores below its 2024 goal of 925+ net stores internationally due to challenges faced by DPE [1]. - The company temporarily suspended its guidance metric of 1,100+ global net stores until the full impact of DPE's store openings and closures is assessed [1]. - Following the announcement, Domino's share price dropped by 473.27 to $409.04 per share [1]. Group 3: Company Background - Kirby McInerney LLP is a New York-based law firm specializing in securities litigation, with a history of achieving recoveries totaling billions of dollars for shareholders [3].