NEWTOWN,
Pa., Sept. 26, 2024 /PRNewswire/ -- Edelson
Lechtzin LLP, a leading class action law firm, announces the filing
of a securities fraud class action on behalf of
all investors of Domino's Pizza, Inc. (NYSE: DPZ) between
December 7, 2023, and July 17, 2024, inclusive (the "Class Period"). A
copy of the Complaint can be found HERE.
Investors who purchased Domino's stock during the Class Period
may move the U.S. District Court for the Eastern District of
Michigan to appoint them as lead
plaintiff, no later than November 19,
2024. Please contact Edelson Lechtzin LLP to
discuss your investment losses at 844-696-7492, or by e-mail
at elechtzin@edelson-law.com.
Background Domino's Pizza, Inc.
Domino's Pizza is a multinational pizza restaurant chain
headquartered in Ann Arbor,
Michigan. The company operates in three segments: U.S.
Stores, International Franchise, and Supply Chain.
The Securities Fraud Claims
Throughout the Class Period, the Complaint alleges
that Defendants made materially false and misleading statements
regarding the Company's business, operations, and prospects.
Specifically, Defendants failed to disclose to investors that: (i)
DPE, the Company's largest master franchisee, was experiencing
significant challenges concerning both new store openings and
closures of existing stores; (ii) as a result, Domino's was
unlikely to meet its own previously issued long-term guidance for
annual global net sore growth; and (iii) as a result, Domino's
business and financial prospects were overstated.
On July 18, 2024, Domino's
announced that it expects 175 to 275 fewer international stores
than its goal due to challenges faced by one of its franchisees,
Domino's Pizza Enterprises. The Company is suspending its guidance
metric of 1,100+ global net stores and the CFO revealed that the
long-term guidance announced in 2023 did not accurately reflect the
franchisee's challenges. On this news, the price of Domino's stock
fell $64.23 per share, or 13.57%, to
close at $409.04 on July 18, 2024.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: medelson@edelson-law.com
Email: elechtzin@edelson-law.com
Web: www.edelson-law.com
Edelson Lechtzin LLP is a leading class action law firm with
offices in Pennsylvania and
California. In addition to cases
involving securities and investment fraud, our lawyers
focus on class and collective litigation in cases alleging
violations of the federal antitrust laws, employee benefit plans
under ERISA, wage theft and unpaid overtime, consumer
fraud, and dangerous and defective drugs and medical
devices.
This press release may be considered Attorney Advertising in
some jurisdictions. No class has been certified in this case, so
you are not represented by counsel unless you retain one. You may
select counsel of your choice. You may also remain an absent class
member and do nothing at this point. Your ability to share in any
potential future recovery is not dependent upon serving as lead
plaintiff.
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SOURCE Edelson Lechtzin LLP
