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Case Status:    ONGOING  
—On or around 02/03/2025 (Date of last review)
Current/Last Presiding Judge:  
Hon. Jon S. Tigar

Filing Date: January 30, 2025

According to the Complaint, Grocery Outlet Holding Corp. is a value retailer of consumables and fresh products sold via a network of independently operated stores across the United States. This class action was filed against Grocery Outlet and two of its Officers.

During the Class Period, Defendants provided investors with material information concerning Grocery Outlet’s expected profit for fiscal year 2024. Defendants’ statements included, among other things, confidence in the Grocery Outlet’s ability to successfully upgrade and transition the Company’s internal systems in a timely and effective manner, while minimizing the risks associated with the ongoing setbacks the Company was experiencing with regard to the transition.

The Complaint alleges Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Grocery Outlet’s transition to new and upgraded systems; notably, that the Company was either not truly equipped to timely and effectively execute on the transition or otherwise failed to disclose the potential for significant setbacks to Grocery Outlet’s profitability as a result of delays and implementation issues which impacted the Company’s visibility and performance. This lawsuit seeks to recover damages caused by Defendants' alleged violations of federal securities laws.

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