Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of Starbucks Corporation (NASDAQ: SBUX) between November 2, 2023 and April 30, 2024. Starbucks describes itself as an “American multinational chain of coffeehouses and roastery reserves.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Starbucks Corporation (NASDAQ: SBUX) Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants provided investors with material information concerning Starbucks’ fiscal year revenue for 2023 and expected guidance for the fiscal year 2024. Defendants’ statements included, among other things, confidence in Starbucks’ Reinvention and diversification of its global portfolio, which relies largely on both Rewards customers and more occasional consumers. 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 related to Starbucks’ Reinvention strategy, comprising: a roadmap and clear plan for success outside of the US, including opening new stores; positive same-store sales; and strong local innovation in foreign economies. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Starbucks Corporation. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by October 28, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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