Brower Piven Encourages Investors Who Have Losses in Excess of $1,000,000 From Investment in Chipotle Mexican Grill, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the October 15, 2012 Lead Plaintiff Dead
Published on Monday, 20 August 2012 17:56 Written by TradersHuddle Staff
STEVENSON, Md., Aug. 20, 2012 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Colorado on behalf of purchasers of the common stock of Chipotle Mexican Grill, Inc. ("Chipotle" or the "Company") (NYSE:CMG) during the period between February 1, 2012 and July 19, 2012, inclusive (the "Class Period").
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 no later than October 15, 2012 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that Chipotle did not have the pricing power to implement price increases sufficient to offset rising food costs and, as a result, the Company's margins would be under pressure as Chipotle would be unable to pass these commodity costs off to the consumers, that demand for Chipotle was slowing and could not support the Company's aggressive 2012 earnings forecasts, and that the Company was experiencing a deceleration of growth as it was becoming a mature company. According to the complaint, after, on July 19, 2012, the Company reported disappointing revenue results and cautious guidance for the year, the value of Chipotle shares declined significantly.
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.
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