LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of United Natural Foods, Inc. (“United Natural Foods” or “the Company”) (NYSE: UNFI) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. United Natural Foods released its second quarter financial results on March 8, 2023. The Company missed consensus estimates, reduced its outlook for 2023, and pulling its forecast for fiscal 2024. The Company claimed that “profits were challenged as we did not repeat the significant level of procurement gains from rapidly accelerating inflation and inventory gains, due to supply chain volatility, that we experienced in the second quarter of last year.” Based on this news, shares of United Natural Foods dropped by more than 28% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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