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GO Deadline: GO Investors Have Opportunity to Lead Grocery Outlet Holding Corp. Securities Fraud Lawsuit

Rosen Law Firm and The Gross Law Firm have issued notices to purchasers of Grocery Outlet Holding Corp. Regarding a class action lawsuit with a lead plaintiff deadline of March 31, 2025.
The lawsuit is based on allegations that Grocery Outlet disseminated false and misleading statements and concealed material adverse facts concerning their transition to new systems between November 7, 2023, and May 7, 2024.
The lawsuit claims that Grocery Outlet was ill-equipped for the systems transition, which led to delays, implementation issues, and ultimately impacted the company's profitability, causing investors to suffer damages when the truth was revealed.
Grocery Outlet announced its financial results for the first quarter of fiscal 2024 after-market on May 7, 2024, publishing significantly below-expectation guidance for the second quarter and reduced guidance for the full fiscal year 2024, attributing the results and lowered guidance on "unforeseen systems transition costs that surfaced at the end of the quarter" and the resulting "residual expense from our commission support program as we finish store physical inventory counts in the second quarter."
Following the announcement, Grocery Outlet's stock price declined by approximately 19.38% to $20.88 per share on May 8, 2024, and investors who purchased securities during the class period may be entitled to compensation, potentially without out-of-pocket fees through a contingency fee arrangement.

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