NEW
YORK, Jan. 26, 2024 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders
of Dollar General Corporation.
Shareholders who purchased shares of DG during the class period
listed are encouraged to contact the firm regarding possible lead
plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/dollar-loss-submission-form/?id=64773&from=4
CLASS PERIOD: This lawsuit is on behalf of all purchasers
of Dollar General common stock between May
28, 2020 and August 30, 2023,
inclusive.
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued materially false and/or
misleading statements and/or failed to disclose that: (a) Dollar
General stores were chronically understaffed and suffering from
logistical and inventory management problems that left stores with
tens of millions of dollars' worth of outdated and unwanted
inventory, mispriced goods, and lost and damaged items; (b) large
backlogs of unsellable merchandise had built up at Dollar General's
stores, which inventory had not been timely written down due to
understaffing and the Company's failure to manage its inventory;
(c) the allotment of employee hours per store per week imposed by
Dollar General management placed employees in virtually impossible
situations where assigned tasks, including those necessary for
effective store operations, could not be completed within the
allotted time; (d) in violation of state laws, including state law
violations identified by state regulators in Arizona, Louisiana,
Mississippi, Missouri, North Carolina, and Ohio, Dollar General was
systematically overcharging customers for items upon checkout; (e)
Dollar General's reported revenue and earnings during the class
period were artificially inflated by defendants' over-pricing
scheme; (f) Dollar General's failure to manage store inventories
and accurately price items upon checkout risked the loss of
customers, lower sales, adverse regulatory actions, and
reputational fallout; (g) Dollar General was not on track to
achieve the 4Q22 guidance provided to investors of 6% to 7%
same-store sales growth or quarterly diluted EPS of $3.15 to $3.30
and was running more than one hundred million dollars behind the
Company's annual net sales guidance of 11% growth; and (h) as a
result of (a)-(g) above, defendants' statements about Dollar
General's business metrics, operations, and financial prospects
were materially false and misleading and/or lacked a reasonable
factual basis when made.
DEADLINE: January 26, 2024
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/dollar-loss-submission-form/?id=64773&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of DG during the timeframe listed
above, you will be enrolled in a portfolio monitoring software to
provide you with status updates throughout the lifecycle of the
case. The deadline to seek to be a lead plaintiff is January 26, 2024. There is no cost or obligation
to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm