Grocery Outlet(GO) Prnewswire·2025-02-03 10:45Core Viewpoint - Grocery Outlet Holding Corp. has faced significant stock price decline following the announcement of disappointing financial results and lowered guidance for fiscal year 2024, attributed to unforeseen costs related to system transitions and inventory management [1]. Summary by Sections Allegations - The class period for shareholders is from November 7, 2023, to May 7, 2024 - On May 7, 2024, Grocery Outlet reported first-quarter results that were significantly below expectations and reduced its second-quarter guidance, as well as its full-year guidance for fiscal 2024 - The company cited "unforeseen systems transition costs" and "residual expense from our commission support program" as reasons for the poor performance - Following this announcement, the stock price dropped to $20.88 per share on May 8, 2024, marking a decline of approximately 19.38% in one day [1]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by March 31, 2025, to monitor the case's progress - Registration allows shareholders to receive updates through portfolio monitoring software - Participation in the case incurs no cost or obligation for shareholders [2]. Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and illegal business practices - The firm aims to recover losses for investors affected by misleading statements or omissions that artificially inflated stock prices [3].