NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 26, 2024 to file lead plaintiff applications in a securities class action lawsuit against Dollar General Corporation (NYSE: DG), if they purchased the Company’s shares between May 28, 2020 and August 30, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Middle District of Tennessee.
What You May Do
If you purchased shares of Dollar General and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-dg/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 26, 2024.
About the Lawsuit
Dollar General and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 31, 2023, the Company announced its 2Q 2023 financial results, disclosing among other things, cuts to its FY23 sales and profit outlook, decreases in operating profits of 24.2% and EPS of 28.5%, and that it “expect[ed] an incremental operating profit headwind of up to $170 million in the second half of 2023,” consisting of $95 million for markdowns on existing inventory and $75 million on increased store personnel to support inventory and pricing control measures.
On this news, the price of Dollar General’s shares plummeted $19.16 per share, or 12%, on August 31, 2023, on unusually high trading volume of more than 19 million shares.
The case is Washtenaw County Employees’ Retirement System v. Dollar General Corporation, et al., 23-cv-01250.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163