Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Lamb Weston Holdings, Inc. (NYSE: LW) securities.
If you suffered a loss on your Lamb Weston investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jul 25 2023 - Apr 03 2024
CASE DETAILS: According to the filed complaint, defendants made false and/or misleading statements and/or failed to disclose that: In truth, defendants knew of, or recklessly disregarded, problems associated with the Enterprise Resource Planning (ERP) system that would hinder its successful implementation. Despite those issues, Lamb Weston pushed ahead with its implementation of an ERP system that was not ready to go live, knowing that a premature roll-out would have a material negative impact on the Company’s business and operations. As a result, the statements concerning its business, operations, and prospects, including its financial guidance for fiscal 2024, lacked a reasonable factual basis. In addition, to the extent the Company purported to warn of risks regarding the negative impacts from an unsuccessful implementation of the ERP system, defendants omitted that such risks had already begun to materialize.
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