Sprouts operates a chain of grocery stores that has grown to include 208 stores in thirteen states as of June 28, 2015.
According to the Complaint, this is a securities class action on behalf of all purchasers of the common stock of Sprouts pursuant to the Offering Documents (as defined herein) issued in connection with the underwritten secondary public offering for an aggregate of 15,847,800 shares of Sprouts common stock by AP Sprouts Holdings, LLC (“AP Sprouts Holdings”) and AP Sprouts Holdings (Overseas), L.P. (“AP Sprouts Overseas,” and together with AP Sprouts Holdings, the “Selling Stockholders”), which closed on or about March 10, 2015 (the “Offering”), seeking to pursue remedies under the Securities Act of 1933 (the “Securities Act”).
On March 4, 2015, Sprouts filed a Registration Statement on Form S-1 (the “Registration Statement”) with the SEC registering the Selling Stockholders’ remaining 15,847,800 shares of Sprouts common stock for sale to the public at a maximum offering price of $35.85 per share. The Registration Statement included a prospectus dated March 4, 2015. The following day, on March 5, 2015, Sprouts filed a prospectus supplement on Form 424B4 to the prospectus included in the Registration Statement (the “Prospectus” and together with the Registration Statement, the “Offering Documents”), with the final offering price of $35.30 per share.
On or about March 6, 2015, Sprouts conducted the registered public sale of the Selling Stockholders remaining shares of Sprouts common stock. Plaintiff and other members of the Class purchased Sprouts common stock pursuant to the Offering Documents.
The Complaint alleges that the Offering Documents were negligently prepared, and, as a result, contained untrue statements of material facts and/or omitted to state facts necessary to make the statements made not misleading.
This case was voluntarily dismissed on March 20, 2018.