Grocery Outlet(GO) Prnewswire·2025-02-14 10:45Core Viewpoint - A class action securities lawsuit has been filed against Grocery Outlet Holding Corp. due to alleged securities fraud affecting investors between November 7, 2023, and May 7, 2024 [1] Group 1: Case Details - On May 7, 2024, Grocery Outlet announced its Q1 fiscal 2024 financial results, which were significantly below expectations, and it lowered its guidance for Q2 and the full fiscal year 2024 [2] - The company cited "unforeseen systems transition costs" and "residual expense from our commission support program" as reasons for the disappointing results and lowered guidance [2] - Following this announcement, Grocery Outlet's stock price dropped to $20.88 per share on May 8, 2024, marking a decline of approximately 19.38% in one day [2] Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until March 31, 2025, to request appointment as lead plaintiff in the lawsuit [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees [3] Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4]