Firm Announces Lawsuit of Class Action Lawsuit for those Who Acquired Securities of Domino’s Pizza, Inc.

If you purchased Domino’s securities during the Class Period you may be entitled to compensation without payment of any out-of-pocket fees or costs

CHARLESTON, SC, UNITED STATES, September 27, 2024 /EINPresswire.com/ -- Poulin | Willey | Anastopoulo, a leading Plaintiffs class action firm announces the filing of a class action securities lawsuit in the United States District Court for the Eastern District of Michigan on behalf of persons or entities who purchased or otherwise acquired the publicly traded securities of Domino’s Pizza, Inc.(“Domino’s” or the “Company”) (NYSE:DPZ) between December 7, 2023, and July 17, 2024, both dates inclusive (the “Class” and the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 19, 2024.

WHY: If you purchased Domino’s securities during the Class Period you may be entitled to compensation without payment of any out-of-pocket fees or costs through a contingency arrangement. There is no cost or obligation to participate.

WHAT’S NEXT: To join the Domino’s class action, call Stuart J. Guber, Esq. at 803-222-2222 or email Stuart J. Guber, Esq. at stuart.guber@poulinwilley.com. If you wish to serve as a lead plaintiff, you must move the Court no later than November 19, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

CASE DETAILS: According to the Complaint, Case 2:24-cv-12477-LVP-APP, Domino’s, through its subsidiaries, operates as a global pizza company in three segments: U.S. Stores, International Franchise, and Supply Chain. The Company’s largest “master franchisee” is Domino’s Pizza Enterprises (“DPE”) which, as of December 31, 2023, operated 3,840 stores in 12 international markets, accounting for approximately 28% of the Company’s international store count and 19% of its global store count. This lawsuit was filed against the Company] and two of its Officers.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) DPE, the Company's largest master franchisee, was experiencing significant challenges with respect to both new store openings and closures of existing stores; (ii) as a result, Domino's was unlikely to meet its own previously issued long-term guidance for annual global net store growth; (iii) accordingly, Domino's business and/or financial prospects were overstated; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

On July 18, 2024, Domino’s issued a press release announcing its Q2 2024 financial results. Among other items, Domino’s disclosed that it “expects it will fall 175 to 275 stores below its 2024 goal of 925+ net stores in international primarily as a result of challenges in both openings and closures being faced by Domino’s Pizza Enterprises (‘DPE’), one of its master franchisees.” Accordingly, “[t]he Company is temporarily suspending its guidance metric of 1,100+ global net stores until the full effect of DPE’s store opens and closures on international net store growth are known.” On an earnings call held that same day to discuss the Company’s Q2 2024 results (the “Q2 2024 Earnings Call”), the Company’s Chief Financial Officer (“CFO”) Defendant Sandeep Reddy (“Reddy”) further revealed that the long-term guidance announced at the 2023 Investor Day did not accurately reflect the extent of DPE’s challenges with respect to new store openings and closures of existing stores. On this news, Domino’s stock price fell $64.23 per share, or 13.57%, to close at $409.04 per share on July 18, 2024.

NO COST TO YOU: No Recovery, No Attorney’s Fees, No Costs. We represent you on a fully contingent basis. There are no fees or costs to you for your participation in the lawsuit if the lawsuit is unsuccessful.

WHY POULIN | WILLEY| ANASTOPOULO: The firm is one of the leading Plaintiff class action and mass tort firms in the country. Our Director of Shareholder Services and Securities Litigation, Stuart J. Guber, has over three decades of experience successfully representing defrauded shareholders including public pension plans, Taft-Hartley union pension plans and health & welfare funds, and individual investors in class action securities litigation and securities opt-out litigation. In addition, firm partner Roy Willey IV has served as counsel in class actions and multi district litigations across the country. He brings a creative, problem-solving based approach to handling cases for consumers, investors and others harmed through no fault of their own. As a result he has been repeatedly named among America’s Top 100 High Stakes Litigators, Best Lawyers, and Super Lawyers.

Stuart Guber
Poulin | Willey | Anastopoulo
+1 803-222-2222
stuart.guber@poulinwilley.com
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