Class Action Reminder for Grocery Outlet Holding Corp. Investors

RADNOR, Pa., March 22, 2025 – The law firm Kessler Topaz Meltzer & Check, LLP has announced a securities class action lawsuit against Grocery Outlet Holding Corp. (NASDAQ: GO) in the United States District Court for the Northern District of California. This lawsuit concerns investors who purchased or acquired Grocery Outlet securities between November 7, 2023, and May 7, 2024, referred to as the "Class Period." The deadline for investors to become lead plaintiffs is March 31, 2025.

Contact Information:
Jonathan Naji, Esq.
Phone: (484) 270-1453
Email: [email protected]

Details of Allegations:

The class action begins on November 7, 2023, following an earnings call regarding the third quarter fiscal results for 2023. During this call, Grocery Outlet's executives spoke about a systems transition that started in August and was expected to be completed by year-end. They also communicated expectations about the company’s profits for fiscal year 2024.

Throughout the Class Period, executives allegedly misled investors by suggesting that they had reliable information about the systems transition and downplayed the risks that might affect the company's financial state, including any potential problems or errors that could arise from the transition.

However, on May 7, 2024, the company reported its first quarter fiscal results, indicating that issues related to the systems transition had a much larger negative impact than anticipated. The company also provided disappointing guidance for the following quarter. Following this announcement, Grocery Outlet's stock plummeted from a closing share price of $25.90 to $20.88 in just one day, representing a drop of approximately 19.38%.

Lead Plaintiff Guidelines:

Grocery Outlet investors have the opportunity to apply to be a lead plaintiff by the deadline of March 31, 2025. The lead plaintiff represents the interests of all class members during the litigation process. Typically, the lead plaintiff is selected based on their financial stake in the case and their typicality to other investors in the class. They also get to choose legal representation, which must be approved by the court.

Those who are part of the Grocery Outlet class action and have experienced significant financial losses are encouraged to reach out to Kessler Topaz Meltzer & Check, LLP for further information.

If you are interested in joining the case, click here to sign up.

About the Law Firm:

Kessler Topaz Meltzer & Check, LLP is renowned for handling class action lawsuits in both state and federal courts in the U.S. and internationally. The firm is committed to recovering financial losses for victims of corporate misconduct and has successfully returned billions of dollars to affected individuals.

For additional information about Kessler Topaz Meltzer & Check, LLP, please visit their official website.

Contact Details:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected]

lawsuit, securities, investors