Investor alert: the law offices of howard g. smith announces the
filing of a securities class action on behalf of chipotle mexican grill,
inc. investors
Bensalem, pa.--(business wire)--law offices of howard g. smith announces that a class action lawsuit has been filed on behalf of investors who purchased chipotle mexican grill, inc. (“chipotle” or the “company”) (nyse: cmg) securities between february 4, 2015 and january 5, 2016, inclusive (the "class period"). injured investors with losses over $249,000 are encouraged to contact the law offices of howard g. smith to discuss their legal rights in this class action. the complaint alleges that throughout the class period, defendants made materially misleading statements and/or failed to disclose that: (i) chipotle’s quality controls were not in compliance with applicable consumer and workplace safety regulations; (ii) chipotle’s quality controls were inadequate to safeguard consumer and employee health; and (iii) as a result of the foregoing, chipotle’s public statements were materially false and misleading at all relevant times. over the course of several disclosures, several news sources and government agencies revealed that the company had allegedly failed to properly protect customers from various food-borne illnesses. the company’s shares fell significantly over the course of these disclosures culminating on january 6, 2016, when the company disclosed that chipotle was served with a federal grand jury subpoena from the u.s. district court for the central district of california in connection with an official criminal investigation being conducted by the u.s. attorney’s office for the central district of california, in conjunction with the u.s. food and drug administration’s office of criminal investigations. on this news, the company’s shares fell $33.03 over two trading days, or 7.3%, to close at $416.00 per share on january 7, 2016. then, on february 3, 2016, the company revealed to investors that the previously disclosed january 6, 2016 subpoena had been expanded in scope to include information dating back to january 1, 2013. on this news shares of chipotle fell an additional $13.93 per share, or nearly 3%, to close at $461.74 per share on february 3, 2016. if you purchased chipotle securities during the class period you may move the court no later than march 8, 2016 to ask the court to appoint you as lead plaintiff if you meet certain legal requirements. to be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class. if you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact howard g. smith, esquire, of law offices of howard g. smith, 3070 bristol pike, suite 112, bensalem, pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com. this press release may be considered attorney advertising in some jurisdictions under the applicable law and ethical rules.
