NEW YORK, Feb. 5, 2016 /PRNewswire/ -- Pomerantz LLP
announces that a class action lawsuit has been filed against
Chipotle Mexican Grill, Inc. ("Chipotle" or the "Company") (NYSE:
CMG) and certain of its officers. The class action,
filed in United States District Court, Southern District of
New York, and docketed under
16-cv-00141, is on behalf of a class consisting of all persons or
entities who purchased Chipotle securities between February 4, 2015 and January 5, 2016 inclusive (the "Class
Period"). This class action seeks to recover damages against
Defendants for alleged violations of the federal securities laws
under the Securities Exchange Act of 1934 (the "Exchange
Act").
If you are a shareholder who purchased Chipotle securities
during the Class Period, you have until March 8, 2016 to ask the Court to appoint you as
Lead Plaintiff for the class. A copy of the Complaint can be
obtained at www.pomerantzlaw.com. To discuss this action,
contact Robert S. Willoughby at
rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll
free, ext. 9980. Those who inquire by e-mail are encouraged to
include their mailing address, telephone number, and number of
shares purchased.
Chipotle, together with its subsidiaries, develops and operates
fast-casual and fresh Mexican food restaurants.
The Complaint alleges that throughout the Class Period,
defendants made materially false and misleading statements
regarding the Company's business, operational and compliance
policies. Specifically, defendants made false and/or misleading
statements and/or failed to disclose that: (i) Chipotle's quality
controls were not in compliance with applicable consumer and
workplace safety regulations; (ii) Chipotle's quality controls were
inadequate to safeguard consumer and employee health; and (iii) as
a result of the foregoing, Chipotle's public statements were
materially false and misleading at all relevant times.
During the week of August 18,
2015, approximately 100 patrons and employees of a Chipotle
restaurant in Simi Valley,
California became ill. On September 4, 2015, the Ventura County
Environmental Health Division announced that the illnesses were a
norovirus outbreak. Health inspectors said that the
restaurant in question contained dirty and inoperative equipment,
equipment directly linked to the sewer, and other sanitary and
health violations.
Between August 19 and September 3,
2015, approximately 64 people fell ill after dining at
Chipotle restaurants in Minnesota. On September 17, 2015, the Minnesota Department of
Health announced that the illnesses were salmonella linked to
tomatoes consumed at 22 Chipotle locations. The affected
restaurants changed tomato suppliers but did not close.
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.
As a result of this news, Chipotle stock fell $16.23, or approximately 2.5%, to close at
$624.00 on November 2, 2015.
Beginning on or around December 2,
2015, more than 140 Boston
College students fell ill after dining at a Chipotle
restaurant in Brighton, Massachusetts. On December 9, 2015, health officials confirmed that
the students had contracted norovirus.
As a result of this news, between
December 1 and December 9, 2015, Chipotle stock fell
$32.73, or roughly 5.6%, to close at
$548.01 on December 9, 2015.
On January 6, 2016, pre-market,
Chipotle announced 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. 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 ("FDA").
On this news, Chipotle stock fell $22.36, or 4.98%, to close at $426.67 on January 6,
2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 70 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP