UPCOMING DEADLINE ALERT: Brower Piven Encourages Shareholders Who Have Losses in Excess of $100,000 from Investment in Chipot...
February 12 2016 - 11:00PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of Chipotle Mexican
Grill, Inc. (NYSE: CMG) (“Chipotle” or the “Company”) securities
during the period between February 4, 2015 and January 5, 2016,
inclusive (the “Class Period”). Investors who wish to become
proactively involved in the litigation have until March 8, 2016 to
seek appointment as lead plaintiff.
If you have suffered a loss from investment in Chipotle
securities purchased on or after February 4, 2015 and held through
the revelation of negative information during and/or at the end of
the Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above action.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Company securities during the Class Period. Brower
Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that Chipotle’s quality
controls were not in compliance with applicable consumer and
workplace safety regulations and inadequate to safeguard consumer
and employee health.
According to the complaint, following: (1) the August 5, 2015
disclosure that approximately 100 patrons and employees of a
Chipotle restaurant in Simi Valley, California became ill; (2) the
September 4, 2015 announcement by the Ventura County Environmental
Health Division that the illnesses were a norovirus outbreak and
that the restaurant in question contained dirty and inoperative
equipment, equipment directly linked to the sewer, and other
sanitary and health violations; (3) the disclosure that between
August 19 and September 3, 2015, approximately 64 people fell ill
after dining at Chipotle restaurants in Minnesota announced on
September 17, 2015 by the Minnesota Department of Health that the
illnesses were salmonella linked to tomatoes consumed at 22
Chipotle locations; (4) the disclosure that on or around November
1, 2015, Chipotle closed all of its restaurants in Portland, Oregon
and Seattle, Washington, following reports of approximately 20
cases of E. coli by Chipotle patrons; (5) the disclosure that
beginning on or around December 2, 2015, more than 140 Boston
College students fell ill after dining at a Chipotle restaurant in
Brighton, Massachusetts after which on December 9, 2015, health
officials confirmed that the students had contracted norovirus; and
(6) the January 6, 2016 announcement that the Company was served in
December 2015 with a federal grand jury subpoena as part of a
criminal investigation tied to the previous summer’s norovirus
outbreak at the Company’s restaurant in Simi Valley and that the
investigation is being conducted by the U.S. Attorney's Office for
the Central District of California in conjunction with the Food and
Drug Administration, the value of Chipotle shares declined
significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160212005677/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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