Press release from Business Wire
Glancy Binkow & Goldberg LLP Announces That a Class Action Lawsuit Against Chipotle Mexican Grill, Inc. Has Been Filed and the Lead Plaintiff Deadline is October 16, 2012
<p class='bwalignc'> Investors Who Have $100,000 in Losses are Encouraged To Inquire About a Lead Plaintiff Position in the Class Action Suit </p>
Tuesday, October 02, 2012
Glancy Binkow & Goldberg LLP Announces That a Class Action Lawsuit Against Chipotle Mexican Grill, Inc. Has Been Filed and the Lead Plaintiff Deadline is October 16, 201218:30 EDT Tuesday, October 02, 2012
LOS ANGELES (Business Wire) -- Glancy Binkow & Goldberg LLP announces that a class action lawsuit has
been commenced in the United States District Court for the District of
Colorado on behalf of a class (the “Class”) comprising all purchasers of
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 shareholders who purchased
during the Class Period have until October 16, 2012 to file a motion
with the court to serve as lead plaintiff.
The Complaint alleges violations of federal securities laws against
Chipotle and certain of the Company's executive officers. Chipotle
develops and operates fast-casual, fresh Mexican food restaurants in the
United States, Canada, the United Kingdom and France. The Complaint
alleges that throughout the Class Period the defendants 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.
The Private Securities Litigation Reform Act of 1995 (“PSLRA”) requires
the Court to appoint a “Lead Plaintiff” in this case. Any person or
group who suffered a loss as a result of purchasing Chipotle common
stock between February 1, 2012 and July 19, 2012 may ask the Court to be
appointed as Lead Plaintiff but must file a motion no later than the
October 16, 2012 deadline and must meet certain legal requirements. Your
ability to share in any recovery doesn't require that you serve as a
Lead Plaintiff. To be a member of the Class you need not take action at
this time; you may retain counsel of your choice or take no action and
remain an absent Class member.
If you wish to learn
more about this action or have any questions concerning this Notice
or your rights or interests with respect to these matters, please
contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925
Century Park East, Suite 2100, Los Angeles, California 90067, by
telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CAMichael Goldberg(310)
201-9150 or (888) 773-9224shareholders@glancylaw.comwww.glancylaw.com
