Key Developments: Chipotle Mexican Grill Inc (CMG)

CMG on New York Consolidated

603.38USD
1 Jul 2014
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$10.87 (+1.83%)
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Latest Key Developments (Source: Significant Developments)

Holzer Holzer & Fistel, LLC Announces Investigation into Potential Claims for Breaches of Fiduciary Duty by Certain Officers and Directors of Chipotle Mexican Grill Inc
Wednesday, 19 Sep 2012 04:03pm EDT 

Holzer Holzer & Fistel, LLC announced that it is investigating potential breaches of fiduciary duty by certain officers and directors of Chipotle Mexican Grill Inc (Chipotle or the Company). On August 16, 2012, an investor filed a class action lawsuit against Chipotle alleging, among other things, that the Company violated the federal securities laws between February 1, 2012 and July 19, 2012 by issuing false and misleading statements that failed to adequately reflect the impact slowing demand and increased prices would have on Chipotle’s margins and financial results. Holzer Holzer & Fistel’s investigation seeks to determine if the allegations contained in the class action complaint also give rise to the separate claims against the Board of Directors for breaches of fiduciary duty, which could be enforced on behalf of the Company through shareholder derivative litigation.  Full Article

Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Chipotle Mexican Grill Inc
Saturday, 15 Sep 2012 06:00pm EDT 

The Law Offices of Todd M. Garber 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 (the “Class”) consisting of all persons or entities who purchased the common stock of Chipotle Mexican Grill Inc between February 1, 2012 and July 19, 2012, inclusive (the Class Period). 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. As a result of this news, on July 20, 2012 the price of Chipotle stock dropped 22% -- the largest one-day stock decline in the Company’s history.  Full Article

Law Offices of Todd M. Garber Announces Investigation of Chipotle Mexican Grill Inc
Wednesday, 12 Sep 2012 12:00am EDT 

The Law Offices of Todd M. Garber announced that it is investigating potential claims against Chipotle Mexican Grill Inc concerning possible violations of federal securities laws. The investigation is related to certain statements issued by the Company between February 1, 2012 and July 19, 2012 concerning the Company’s business and financial prospects. The investigation is related to allegations that the Company and certain of its executive officers misrepresented and/or failed to disclose material adverse facts, 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.  Full Article

Pittsburgh Law Office of Alfred G. Yates Jr., PC Files Class Action Lawsuit On Behalf of Shareholders of Chipotle Mexican Grill Inc
Wednesday, 5 Sep 2012 02:47pm EDT 

Law Office of Alfred G. Yates Jr., PC announced that it has filed a class action in the United States District Court for the District of Colorado on behalf of purchasers of Chipotle Mexican Grill Inc (Chipotle) common stock during the period between February 1, 2012 and July 19, 2012 (the Class Period). The complaint charges Chipotle and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and prospects. As a result of defendants' alleged false statements, Chipotle stock traded at artificially inflated prices during the Class Period. Plaintiff seeks to recover damages on behalf of all purchasers of Chipotle common stock during the Class Period (the Class).  Full Article

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.  Full Article

Izard Nobel LLP Announces Class Action Lawsuit Against Chipotle Mexican Grill, Inc.
Tuesday, 28 Aug 2012 03:47pm EDT 

The law firm of Izard Nobel LLP, announced that a lawsuit seeking class action status has been filed 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) between February 1, 2012 and July 19, 2012, inclusive (the Class Period). The Complaint alleges that Chipotle and certain of its officers and directors violated the federal securities laws. The Complaint alleges that defendants issued misleading statements regarding the Company's business and prospects. Specifically, defendants failed to disclose the following: (i) 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; (ii) demand for Chipotle was slowing due to the economy and increased competition and could not support the Company's aggressive 2012 earnings forecasts; and (iii) Chipotle was experiencing a deceleration of growth as it was becoming a mature company.  Full Article

Based Dyer & Berens LLP Files Class Action Lawsuit On Behalf Of Investors Who Purchased Chipotle Mexican Grill, Inc. Common Stock
Thursday, 23 Aug 2012 02:23pm EDT 

Dyer & Berens LLP announced that it has filed a class action lawsuit in the United States District Court for the District of Colorado on behalf of all persons who purchased or otherwise acquired the common stock of Chipotle Mexican Grill, Inc. between February 1, 2012 and July 19, 2012, inclusive (the Class Period).  Full Article

The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation Of Possible Breaches Of Fiduciary Duty By Officers And Directors Of Chipotle Mexican Grill, Inc.
Monday, 20 Aug 2012 10:20am EDT 

The Briscoe Law Firm, PLLC, and the Powers Taylor, LLP announced that the firms are investigating legal claims against the officers and Board of Directors of Chipotle Mexican Grill, Inc. (Chipotle or CMG) related to potential securities violations between February 1, 2012 and July 19, 2012 (the Class Period).  Full Article

Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Chipotle Mexican Grill Inc
Friday, 17 Aug 2012 12:21pm EDT 

Robbins Geller Rudman & Dowd LLP announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the District of Colorado on behalf of purchasers of Chipotle Mexican Grill, Inc. ("Chipotle") common stock during the period between February 1, 2012 and July 19, 2012 (the "Class Period"). The complaint charges Chipotle and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Chipotle develops and operates fast-casual, fresh Mexican food restaurants in the United States, Canada, the United Kingdom and France. According to the complaint, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: Chipotle`s 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; demand for Chipotle was slowing due to the economy and increased competition and could not support the Company`s aggressive 2012 earnings forecasts; and Chipotle was experiencing a deceleration of growth as it was becoming a mature company.  Full Article

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McDonald's, Taco Bell, KFC laggards in U.S. fast-food survey

- Fast-food titans McDonald's, Taco Bell and KFC are conquering the globe, but they are losing to the likes of In-N-Out Burger, Chipotle Mexican Grill and Chick-fil-A in the United States, according to Consumer Reports' latest fast-food survey.

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