SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of federal and state laws by Chipotle Mexican Grill, Inc. (NYSE: CMG) and certain of its officers and directors. Chipotle develops and operates fast-casual and fresh Mexican food restaurants.
Specifically, Johnson & Weaver’s investigation seeks to determine whether certain statements regarding Chipotle’s business, operations, and prospects were false and misleading when made.
On January 6, 2016, Chipotle announced that in December 2015 it was served with a federal subpoena, requiring the Company to produce documents following the August 2014 criminal investigation of a norovirus outbreak at one of its restaurants in Simi Valley, California. The Company added in a filing with the U.S. 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 U.S. Food and Drug Administration's Office of Criminal Investigations. This disclosure follows the E. coli outbreak linked to certain Chipotle restaurants in late October and November 2015, and a separate norovirus outbreak at a Chipotle restaurant in Boston, Massachusetts. Additionally, Chipotle said it expects same-store sales in Q4 to fall 14.6% vs. a year earlier, and earnings in the range of $1.70 to $1.90, down sharply from the $3.84 it earned in the same period in 2014.
Following this news, Chipotle's stock fell $22.36, or almost 5%, to close at $426.67 on January 6, 2016.
If you are a Chipotle shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Michael I. Fistel, Jr., Esq. (michaelf@johnsonandweaver.com), at 770-200-3104. If you email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
