According to the law firm press release, Chipotle, together with its subsidiaries, develops and operates fast-casual and fresh Mexican food restaurants.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Chipotle’s quality controls were not in compliance with applicable consumer and workplace safety regulations; (ii) Chipotle’s quality controls were inadequate to safeguard consumer and employee health; and (iii) as a result of the foregoing, Chipotle’s public statements were materially false and misleading at all relevant times.
On April 18, 2016, the Court issued an Order appointing Lead Plaintiff and Lead Counsel. Lead Plaintiffs filed an amended complaint on June 17.
On March 8, 2017, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to file an amended Complaint. An amended Complaint was filed on April 7. Defendants filed a Motion to Dismiss the amended Complaint on June 7, 2017. On March 22, 2018, the Court issued an Order granting Defendants' Motion to Dismiss the amended Complaint. The case was dismissed with prejudice. On April 20, Plaintiffs filed a Motion to alter Judgment and for leave to amend. On November 20, the Court issued an Order denying Plaintiffs' Motion. Plaintiffs filed a Notice appealing the Court's Order on December 20.