GO Investor Alert: A Securities Fraud Class Action Lawsuit Has Been Filed Against Grocery Outlet Holding Corp. (GO)

Core Viewpoint - A securities class action lawsuit has been filed against Grocery Outlet Holding Corp. for alleged misconduct during the Class Period from November 7, 2023, to May 7, 2024, following significant stock price declines due to undisclosed issues related to a systems transition [1][4]. Summary by Sections Allegations of Misconduct - The lawsuit claims that during the Class Period, Grocery Outlet's management misled investors regarding the reliability of information about the Systems Transition, which began in August 2023 and was expected to be completed by the end of 2023 [2][3]. - Defendants allegedly downplayed the risks associated with potential setbacks from the Systems Transition, creating a false sense of security among investors [3]. Impact on Stock Price - On May 7, 2024, Grocery Outlet reported first quarter fiscal year 2024 results that revealed a larger-than-expected negative impact from the Systems Transition, along with disappointing guidance for the second quarter [4]. - Following this announcement, Grocery Outlet's stock price plummeted from $25.90 per share to$20.88 per share, marking a decline of approximately 19.38% in just one day [4]. Lead Plaintiff Process - Investors who suffered losses during the Class Period can seek to be appointed as lead plaintiffs by March 31, 2025, or may choose to remain absent class members [5]. - The lead plaintiff will represent the interests of all class members and select legal counsel for the case [5]. Legal Representation - Kessler Topaz Meltzer & Check, LLP is encouraging affected investors to contact them for more information regarding the lawsuit [6].