An investor in Chipotle Mexican Grill, Inc. (NYSE:CMG) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Chipotle Mexican Grill, Inc..
Investors who purchased shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) have certain options and for certain investors are short and strict deadlines running. Deadline: March 8, 2016. NYSE:CMG investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff claims that between February 4, 2015 and January 5, 2016 defendants made allegedly false and/or misleading statements and/or failed to disclose that Chipotle Mexican Grill’s quality controls were not in compliance with applicable consumer and workplace safety regulations, that Chipotle Mexican Grill’s quality controls were inadequate to safeguard consumer and employee health, and as a result of the foregoing, Chipotle Mexican Grill’s public statements were materially false and misleading at all relevant times.
Between August 19 and September 3, 2015, more than 60 people fell ill after dining at Chipotle Mexican Grill, Inc. restaurants in Minnesota. On September 17, 2015, the Minnesota Department of Health announced that the illnesses were salmonella linked to tomatoes consumed at 22 Chipotle Mexican Grill, Inc. locations. The affected restaurants changed tomato suppliers but did not close.
On or around November 1, 2015, Chipotle Mexican Grill, Inc. closed all of its restaurants in Portland, Oregon and Seattle, Washington, following reports of approximately 20 cases of E. coli by Chipotle patrons.
On November 20, 2015, the Centers for Disease Control and Prevention (“CDC”) announced that the E. Coli outbreak in Oregon and Washington previously linked to Chipotle had spread to a total of six states.
On December 7, 2015, post-market, Boston College announced that several of its students had complained of gastrointestinal symptoms after eating at a Chipotle restaurant in Brighton, Massachusetts. On December 9, 2015, health officials confirmed that the students had contracted norovirus.
On January 6, 2016, Chipotle Mexican Grill, Inc. announced that it was served in December 2015 with a federal grand jury subpoena as part of a criminal investigation tied to a norovirus outbreak the previous summer at one of its restaurants in California. The investigation is being conducted by the U.S. Attorney’s Office for the Central District of California in conjunction with the Food and Drug Administration (“FDA”).
Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) declined from $748.34 per share on August 14, 2015 to $399.14 per share on January 12, 2016.
Those who purchased shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) have certain options and should contact the Shareholders Foundation.
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