Shareholder Rights Law Firm Johnson & Weaver, LLP Initiates Investigations of; Chipotle Mexican Grill, Inc., Navient Corporation, Brixmor Property Group Inc., and The Boeing Company; Encourages Investors to Contact the Firm for Information Concerning Their Legal Rights
SAN DIEGO, April 19, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential claims against Chipotle Mexican Grill, Inc., Navient Corporation, Brixmor Property Group Inc., and The Boeing Company, as detailed below:
Chipotle Mexican Grill, Inc.
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Chipotle Mexican Grill, Inc. (NYSE: CMG) and certain of its officers. A class action lawsuit against the Company has been filed on behalf of shareholders who purchased Chipotle between February 4, 2015 and January 5, 2016, (the "Class Period").
The complaint alleges that throughout the Class Period, defendants made materially false and 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.
On January 6, 2016, Chipotle announced that it had been served with a federal subpoena following August 2014's criminal investigation of a dangerous norovirus outbreak at one of its restaurants. This disclosure follows an E. coli outbreak linked to Chipotle restaurants in late October and November 2015, and a separate norovirus outbreak at a location in Massachusetts.
If you have held shares continuously prior to February 4, 2015, you may have standing to hold Chipotle harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a Chipotle shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Navient Corporation
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Navient Corporation (NASDAQ: NAVI) and certain of its officers. A class action lawsuit against the Company has been filed on behalf of shareholders who purchased Naviant between April 17, 2014 and December 28, 2015, (the "Class Period").
The complaint alleges that during the Class Period, defendants materially misstated the Company's business metrics and financial prospects by failing to disclose that: (a) an increased number of higher risk Private Education Loan borrowers were not timely repaying their loans; (b) Navient's loan loss reserves were materially understated; (c) the Company was engaged in unsound business practices; (d) the Company's operating structure was bloated; (e) a significant portion of the Company's low-rate credit facilities were at risk of being reduced or eliminated, which would cause the Company to face higher borrowing costs; and (f) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company's prospects and growth.
If you have held shares continuously prior to April 17, 2014, you may have standing to hold Naviant harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a Naviant shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Brixmor Property Group Inc.
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Brixmor Property Group Inc. (NYSE:BRX) and certain of its officers. A class action lawsuit against the Company has been filed on behalf of shareholders who purchased Brixmor between October 27, 2014 and February 5, 2016, (the "Class Period").
The complaint alleges that, throughout the class period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company purposefully misrepresented Brixmor's financial results by manipulating income items for nine quarters; and (2) Brixmor did not have adequate internal and financial controls.
On February 8, 2016, Brixmor announced that its CEO, President and Chief Financial Officer, and Chief Accounting Officer, as well as an accounting employee, had resigned effective immediately. Brixmor announced these resignations stem from an Audit Committee review that determined that "specific Company accounting and financial reporting personnel, in certain instances, were smoothing income items, both up and down, between reporting periods in an effort to achieve consistent quarterly same property net operating income" growth.
If you have held shares continuously prior to October 27, 2014, you may have standing to hold Brixmor harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a Brixmor shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
The Boeing Company
Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by The Boeing Company (NYSE: BA) and certain of its officers. A class action lawsuit against the Company has been filed on behalf of shareholders who purchased Boeing between February 9, 2012 and February 11, 2016, (the "Class Period").
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose that: (a) Boeing's use of program accounting for the Company's 787 Dreamliner and/or 747 jumbo aircrafts relied on inflated sales forecasts; (b) Boeing's use of program accounting for the Company's 787 Dreamliner and/or 747 jumbo aircrafts relied on understated estimates of production costs; and (c) as a result of the foregoing, Boeing's public statements were materially false and misleading at all relevant times.
If you have held shares continuously prior to February 2012, you may have standing to hold Boeing harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a Boeing shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
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SOURCE Johnson & Weaver, LLP
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