Starbucks Corporation
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
CASE ALLEGATIONS: Starbucks, along with its subsidiaries, is a global coffee roaster, marketer, and retailer.
The Starbucks class action lawsuit alleges that during the Class Period, Starbucks and its affiliates made false or misleading statements and/or failed to disclose that: (i) the defendants created a misleading impression of having reliable information about Starbucks’ future outlook and anticipated growth while downplaying risks associated with seasonality and expansion in foreign markets, especially China; (ii) Starbucks’ Reinvention platform, which was touted as a global growth strategy, did not meet the company’s stated objectives; and (iii) Starbucks’ plan was not adequately prepared for existing macroeconomic uncertainties and competitive pressures, particularly in China.
The lawsuit further claims that on April 30, 2024, Starbucks reported disappointing second-quarter 2024 results, including a 4% global decline in store sales, a 7% drop in customer traffic, and a 2% decrease in new revenues to $8.6 billion. Additionally, Starbucks lowered its fiscal year 2024 guidance, citing declines in global store sales, net revenues, and both GAAP and non-GAAP earnings. Following this announcement, Starbucks’ stock price reportedly fell by more than 15%, according to the complaint.
