NEW
YORK, Oct. 28, 2024 /PRNewswire/ -- The
Gross Law Firm issues the following notice to shareholders of
Starbucks Corporation (NASDAQ: SBUX).
Shareholders who purchased shares of SBUX during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/starbucks-loss-submission-form/?id=109392&from=4
CLASS PERIOD: November 2,
2023 to April 30, 2024
ALLEGATIONS: According to the complaint, on April 30, 2024, after market hours, investors
began to question the veracity of defendants' public statements
following Starbucks' press release announcing its second quarter
fiscal 2024 earnings and the accompanying same-day earnings call.
In pertinent part, defendants announced disappointing Q2 Fiscal
2024 results, stating that store sales declined globally 4%, with
traffic falling 7%, and further disclosed a 2% decline in new
revenues to $8.6 billion. On the back
of these results, Starbucks additionally lowered their guidance for
FY 2024, citing global declines in store sales, net revenues, and
both GAAP and non- GAAP earnings. The Company attributed its
results and lowered guidance on the issues Starbucks was facing in
China, with CFO Ruggeri stating,
in reference to the Chinese market, "we still see the effects of a
slower-than-expected recovery, and we see fierce competition among
value players in the market." Investors and analysts reacted
immediately to Starbucks' revelation. The price of Starbucks'
common stock declined dramatically. From a closing market price of
$88.49 per share on April 30, 2024, Starbucks' stock price fell to
$74.44 per share on May 1, 2024, a decline of over 15% in the span of
just a single day.
DEADLINE: October 28, 2024
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/starbucks-loss-submission-form/?id=109392&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of SBUX during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is October 28, 2024. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm
