Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lamb Weston Holdings, Inc. (LW)

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming August 12, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Lamb Weston Holdings, Inc. (“Lamb Weston” or the “Company”) (NYSE: LW) common stock between July 25, 2023 and April 3, 2024, inclusive (the “Class Period”).

If you suffered a loss on your Lamb Weston investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Lamb-Weston-Holdings-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [e-mail] to learn more about your rights.

On April 4, 2024, Lamb Weston disclosed that it had experienced significant challenges in its transition to its highly-touted new Enterprise Resource Planning (”ERP”) software system, causing the Company to lose $135 million in sales during the third quarter of fiscal 2024. Additionally, the Company lowered its sales guidance for the remainder of the full fiscal year by $330 million.

On this news, Lamb Weston’s stock price fell $19.59, or 19.4%, to close at $81.53 per share on April 4, 2024, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants: (1) knew of, or recklessly disregarded, problems associated with the ERP system that would hinder its successful implementation; (2) pushed ahead with its implementation of an ERP system that was not ready to go live, knowing that a premature roll-out would have a material negative impact on the Company’s business and operations; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Lamb Weston common stock during the Class Period, you may move the Court no later than August 12, 2024 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [e-mail], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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