Press release from Business Wire
Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Chipotle Mexican Grill, Inc.
Saturday, September 15, 2012
Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Chipotle Mexican Grill, Inc.18:00 EDT Saturday, September 15, 2012 LOS ANGELES (Business Wire) -- The Law Offices of Todd M. Garber announces that a class action lawsuit has been filed in the United States District Court for the District of Colorado on behalf of a class (the “Class”) consisting of all persons or entities who purchased the common stock of Chipotle Mexican Grill, Inc. (“Chipotle” or the “Company”) (NYSE:CMG) between February 1, 2012 and July 19, 2012, inclusive (the “Class Period”). Chipotle develops and operates fast-casual, fresh Mexican food restaurants in the United States, Canada, the United Kingdom and France. The Complaint alleges that the Company and certain of its executive officers misrepresented and/or failed to disclose material adverse facts concerning Chipotle's business and financial prospects, including that: (1) Chipotle did not have the pricing power to implement price increases sufficient to offset rising food costs, and as a result the Company's margins would be under pressure as Chipotle would be unable to pass through these commodity costs to consumers; (2) demand for Chipotle was slowing due to the economy and increased competition, and could not support the Company's aggressive 2012 earnings forecasts; and (3) Chipotle was experiencing a deceleration of growth as it was becoming a mature company. As a result of this news, on July 20, 2012 the price of Chipotle stock dropped 22% -- the largest one-day stock decline in the Company's history. If you are a member of the above-described Class, you may move the Court no later than October 16, 2012 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time, or you may retain counsel of your choice. If you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to email@example.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Law Offices of Todd M. GarberTodd M. Garber, Attorney at LawLos Angeles, California213firstname.lastname@example.org