DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against Chipotle Mexican Grill, Inc. (“Chipotle”) (NYSE: CMG) and several officers and directors for acts taken during the period of February 4, 2015 to January 5, 2016 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Chipotle. If you are an affected Chipotle shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org, Patrick Powers at Powers Taylor LLP via email at email@example.com, or call toll free at (877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants issued materially false and misleading statements regarding its business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) its quality controls were not in compliance with applicable consumer and workplace safety regulations; (ii) its quality controls were inadequate to safeguard consumer and employee health; and (iii) as a result of the foregoing, its public statements were materially false and misleading at all relevant times.
On January 6, 2016, 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 disclosed 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. Chipotle stock dropped significantly immediately following this announcement.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.