NEW ORLEANS, Aug. 25, 2017 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Dollar General Corporation (NYSE: DG).
Throughout the year 2016, Dollar General executives caused the Company to misrepresent the true negative effect that reductions of Supplemental Nutrition Assistance Program ("SNAP") benefits would have, and were having, on the Company's present and future revenue, net income and earnings growth, resulting in the Company's stock trading at artificially inflated prices throughout much of 2016. When the truth was finally revealed, on August 25, 2016, Dollar General's stock collapsed over 17%, instantly wiping out more than $4 billion in shareholder equity.
Thereafter, Dollar General and certain of its executives were sued in a securities class action lawsuit charging them with failing to disclose material information, violating federal securities laws.
KSF's investigation is focusing on whether Dollar General's officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Dollar General shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]).
About Kahn Swick & Foti, LLC
KSF, whose partners include Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.