The Law Offices of Frank R. Cruz announces an investigation of Chipotle Mexican Grill, Inc. (“Chipotle” or the “Company”) (NYSE: CMG) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On July 24, 2024, Chipotle held its second quarter 2024 earnings call, during which, the Company addressed “the portion concerns that [had] been brought up on social media,” and revealed that the third quarter of 2024 would see a higher cost of sales as a result of giving customers more generous portions.
On this news, Chipotle’s stock price fell $1.95, or 3.9%, over two consecutive trading days, to close at $49.83 per share on July 26, 2024, thereby injuring investors.
Then, on October 30, 2024, Business Insider published an article stating that “profit margins for the chain suffered last quarter because of a concerted effort to provide ‘consistent and generous portions’ in every order.”
On this news, Chipotle’s stock price fell $4.76, or 7.9%, to close at $55.73 per share on October 30, 2024, thereby injuring investors further.
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If you purchased Chipotle securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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