NEW YORK, Jan. 30, 2025 (GLOBE NEWSWIRE) — The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Grocery Outlet Holding Corp. (“Grocery Outlet” or the “Company”) (NASDAQ: GO) between November 7, 2023, to May 7, 2024, both dates inclusive. You are hereby notified that the class action lawsuit Riccio Liberato v. Grocery Outlet Holding Corp., et al. (Case No. 3:25-cv-00957) has been commenced in the United States District Court for the Northern District of California. To get more information go to:
https://zlk.com/pslra-1/grocery-outlet-holding-corp-lawsuit-submission-form
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
According to the complaint, after-market on May 7, 2024, Grocery Outlet announced its financial results for the first quarter of fiscal 2024, published significantly below-expectation guidance for the second quarter, and further reduced its guidance for the full fiscal year 2024. The Company attributed its results and lowered guidance on “unforeseen systems transition costs that surfaced at the end of the quarter” and the resulting “residual expense from our commission support program as we finish store physical inventory counts in the second quarter.”
Following this news, Grocery Outlet’s stock price fell to $20.88 per share on May 8, 2024, a decline of about 19.38% in the span of just a single day.
If you suffered a loss in GO securities, you have until March 31, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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