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Chipotle Mexican Grill, Inc. Investors: Please contact the Portnoy Law Firm to recover your losses. January 10, 2025 Deadline to file Lead Plaintiff Motion.
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Nov. 14, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Chipotle Mexican Grill, Inc. ("Chipotle Mexican Grill" or the "Company") (NYSE:CMG) investors of a class action representing investors that bought securities between February 8, 2024 and October 29, 2024, inclusive (the "Class Period"). Chipotle Mexican Grill investors have until January 10, 2025 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The complaint alleges that during the class period, Chipotle’s executives failed to disclose that the company's portion sizes were inconsistent, which led to significant customer dissatisfaction. To address this issue and retain customer loyalty, the company would need to provide more generous portions, which would in turn increase the cost of sales.
According to the complaint, on July 24, 2024, during its Q2 2024 earnings call, Chipotle admitted that inconsistent portion sizes had caused customer dissatisfaction. The company acknowledged that addressing the issue would require an investment in larger portions to ensure that customers received "a generous amount of delicious, fresh food at fair prices for every customer, every visit." Chipotle also disclosed that these changes would result in higher costs of sales in Q3 2024. Then, on October 29, 2024, during its Q3 2024 earnings call, Chipotle confirmed that its cost of sales had increased compared to the previous year, partially due to these efforts to improve portion consistency.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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