Grocery Outlet Holding Corp. Class Action Lawsuit – GO

The filed complaint alleges that Grocery Outlet Holding Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had “expanded too quickly” into new stores; (2) the Company’s purportedly strong financial and operational growth was being artificially supported by excessive rapid store expansion; (3) as a result, the Company was unable to achieve the sustainable growth required to meet its previously set guidance; (4) the Company’s restructuring plan would require further optimization to achieve its operational goals, including significant store closures and asset write-downs; and (5) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.