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Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Chipotle Mexican Grill Inc


Sunday, 2 Sep 2012 07:00pm EDT 

Glancy Binkow & Goldberg LLP announced that a class action lawsuit has been filed in the United States District Court for the District of Colorado on behalf of a class comprising all purchasers of the common stock of Chipotle Mexican Grill Inc between February 1, 2012 and July 19, 2012. Chipotle develops and operates fast-casual, fresh Mexican food restaurants in the United States, Canada, the United Kingdom and France. The Complaint alleges that the Company and certain of its executive officers misrepresented and/or failed to disclose material adverse facts concerning Chipotle’s business and financial prospects, including that: (1) 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 through these commodity costs to consumers; (2) demand for Chipotle was slowing due to the economy and increased competition, and could not support the Company’s aggressive 2012 earnings forecasts; and (3) Chipotle was experiencing a deceleration of growth as it was becoming a mature company. 

Company Quote

678.09
3.73 +0.55%
10:49am EDT