Faruqi & Faruqi, LLP, a prominent national securities law firm, is investigating potential legal claims against Starbucks Corporation. The firm is looking into allegations that Starbucks misled investors about its financial performance, specifically concerning its ‘Reinvention’ strategy, which focused on expanding outside the United States.
The investigation stems from Starbucks’ disappointing second-quarter fiscal 2024 earnings announcement on April 30, 2024. The company reported a decline in global store sales, with traffic falling 7%. This led to a significant drop in Starbucks’ stock price, plummeting over 15% in a single day.
Investors who suffered losses exceeding $100,000 in Starbucks stock between November 2, 2023, and April 30, 2024, are encouraged to contact Faruqi & Faruqi partner Josh Wilson directly. The firm is seeking a lead plaintiff for a federal securities class action lawsuit filed against Starbucks. The lead plaintiff will represent the interests of all investors who suffered losses during this period.
The deadline for investors to seek the role of lead plaintiff is October 28, 2024. Investors may choose to remain an absent class member or actively participate in the litigation by contacting the firm. Faruqi & Faruqi is also welcoming information from whistleblowers, former employees, and shareholders who may have knowledge of Starbucks’ conduct.
If you are a Starbucks investor who believes you have been affected by this situation, contact Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You can also find more information on the firm’s website: www.faruqilaw.com/SBUX. Stay updated on this case by following Faruqi & Faruqi on LinkedIn, X (formerly Twitter), and Facebook.
