NEW YORK, Jan. 12, 2016 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC reminds investors of class action against Chipotle Mexican Grill, Inc. ("Chipotle" or the "Company") (CMG) and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 16-cv-00141, is on behalf of a class consisting of all persons or entities who purchased Chipotle securities between February 4, 2015 and January 5, 2016 inclusive (the "Class Period"). Such investors are advised to contact Peretz Bronstein or his investor relations analyst, Yael Hurwitz at email@example.com or 212-697-6484.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, defendants made false and/or 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.
During the week of August 18, 2015, approximately 100 customers and employees of a Chipotle restaurant in Simi Valley, California became ill. The Ventura County Environmental Health Division reported on September 4, 2015, that the illness was a norovirus outbreak. Health inspectors said that the Chipotle restaurant in question contained dirty and inoperative equipment, equipment directly linked to the sewer, and other sanitary and health violations.
In a similar case, between August 19 and September 3, 2015, about 64 people became sick from a Minnesota Chipotle. The Minnesota Department of Health reported on September 17, 2015, that the illness was salmonella, linked to tomatoes consumed at 22 Chipotle locations. The affected restaurants changed tomato suppliers but did not close their stores.
Additionally, Chipotle closed all of its restaurants in Portland, Oregon and Seattle, Washington, around November 1, 2015, following reports of approximately 20 cases of E. coli by Chipotle patrons. Following this news, Chipotle stock fell $16.23, or approximately 2.5%, to close at $624.00 on November 2, 2015.
In another situation, more than 140 Boston College students fell ill after dining at a Chipotle restaurant in Brighton, Massachusetts around December 2, 2015. Health officials confirmed on December 9, 2015, that the students had contracted norovirus. Following this news, between December 1 and December 9, 2015, Chipotle stock fell $32.73, or 5.6%, to close at $548.01 on December 9, 2015.
On January 6, 2016, pre-market, Chipotle announced that it was served in December 2015 with a federal subpoena, requiring the Company to produce extensive documents following the August 2014's criminal investigation of the dangerous norovirus outbreak in Simi Valley, California. Chipotle said in a filing with the Securities and Exchange Commission that 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's Office of Criminal Investigations. Following this news, Chipotle stock fell $22.36, or 4.98%, to close at $426.67 on January 6, 2016.
If you are aware of any facts relating to this investigation or purchased shares of Chipotle, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
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