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Case Status:    ONGOING    
On or around 09/18/2017 (Ongoing date of last review)

Filing Date: January 18, 2017

According to the law firm press release, Dollar General is one of the largest discount retailers in the United States. As a discount retailer, Dollar General’s core customers are low- and fixed-income households, a significant percentage of which qualify for the federal food stamp benefits program (formally known as the Supplemental Nutrition Assistance Program or “SNAP”). Beginning in 1996, SNAP benefits were limited to no more than 3 months out of any 26 month period for unemployed individuals who are not disabled or raising minor children. Many states waived this limitation in the aftermath of the 2008 financial crisis. Given the improving condition of the U.S. economy, at least 20 states were planning to re-implement the limitation in 2016, which would go into effect in April at the beginning of the second fiscal quarter of 2016.

The complaint alleges that throughout the Class Period the defendants made false and misleading statements and failed to disclose material adverse facts about the Company’s business and operations to investors. Specifically, defendants made false and/or misleading statements and/or failed to disclose that the announced limitations on SNAP benefits would have a material impact on the Company’s financial performance because 56% of Dollar General’s stores are located in states that re-implemented time limitations on SNAP benefits in 2016, and therefore the impact of SNAP reductions would be disproportionate to the percentage of the Company’s overall sales comprised of SNAP payments. These statements were material to investors because they were made in response to concerns by analysts that SNAP benefits were going to be reduced in a number of states – which potentially would have impacted Dollar General’s sales to the extent its business operations were exposed to SNAP changes.

On April 25, 2017, the Court appointed Lead Plaintiff and Counsel.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Department & Discount)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: DG
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: M.D. Tennessee
DOCKET #: 17-CV-00063
JUDGE: Hon. Kevin H. Sharp
DATE FILED: 01/18/2017
CLASS PERIOD START: 03/10/2016
CLASS PERIOD END: 11/30/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berke, Berke & Berke
    P O Box 4747 420 Frazier Avenue , Berke, Berke & Berke , TN 37405
    (423) 266-5171 (423) 265-5307 ·
  2. Kessler Topaz Meltzer & Check LLP (Pennsylvania)
    280 King of Prussia Road, Kessler Topaz Meltzer & Check LLP (Pennsylvania), PA 19087
    610.667.7706 610.667.7706 · info@ktmc.com
No Document Title Filing Date
COURT: M.D. Tennessee
DOCKET #: 17-CV-00063
JUDGE: Hon. Kevin H. Sharp
DATE FILED: 06/26/2017
CLASS PERIOD START: 03/10/2016
CLASS PERIOD END: 11/30/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berke, Berke & Berke
    P O Box 4747 420 Frazier Avenue , Berke, Berke & Berke , TN 37405
    (423) 266-5171 (423) 265-5307 ·
  2. Kessler Topaz Meltzer & Check LLP (California)
    580 California Street, Suite 1750, Kessler Topaz Meltzer & Check LLP (California), CA 94104
    415.400.3000 415.400.3000 · info@ktmc.com
No Document Title Filing Date