STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Southern District of New York
on behalf of purchasers of Chipotle Mexican Grill, Inc. (NYSE: CMG)
(“Chipotle” or the “Company”) securities during the period between
February 4, 2015 and January 5, 2016, inclusive (the “Class Period”).
Investors who wish to become proactively involved in the litigation have
until March 8, 2016 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in Chipotle securities
purchased on or after February 4, 2015 and held through the revelation
of negative information during and/or at the end of the Class Period, as
described below, and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616. No class has yet been certified in
the above action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the Class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Company securities during
the Class Period. Brower Pivenalso encourages anyone with
information regarding the Company’s conduct during the period in
question to contact the firm, including whistleblowers, former
employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that Chipotle’s quality controls were not in
compliance with applicable consumer and workplace safety regulations and
inadequate to safeguard consumer and employee health.
According to the complaint, following: (1) the August 5, 2015 disclosure
that approximately 100 patrons and employees of a Chipotle restaurant in
Simi Valley, California became ill; (2) the September 4, 2015
announcement by the Ventura County Environmental Health Division that
the illnesses were a norovirus outbreak and that the restaurant in
question contained dirty and inoperative equipment, equipment directly
linked to the sewer, and other sanitary and health violations; (3) the
disclosure that between August 19 and September 3, 2015, approximately
64 people fell ill after dining at Chipotle restaurants in Minnesota
announced on September 17, 2015 by the Minnesota Department of Health
that the illnesses were salmonella linked to tomatoes consumed at 22
Chipotle locations; (4) the disclosure that on or around November 1,
2015, Chipotle closed all of its restaurants in Portland, Oregon and
Seattle, Washington, following reports of approximately 20 cases of E.
coli by Chipotle patrons; (5) the disclosure that beginning on or around
December 2, 2015, more than 140 Boston College students fell ill after
dining at a Chipotle restaurant in Brighton, Massachusetts after which
on December 9, 2015, health officials confirmed that the students had
contracted norovirus; and (6) the January 6, 2016 announcement that the
Company was served in December 2015 with a federal grand jury subpoena
as part of a criminal investigation tied to the previous summer’s
norovirus outbreak at the Company’s restaurant in Simi Valley and that
the investigation is being conducted by the U.S. Attorney's Office for
the Central District of California in conjunction with the Food and Drug
Administration, the value of Chipotle shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160212005677/en/
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
© 2024 Canjex Publishing Ltd. All rights reserved.