SAN DIEGO, June 18, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Lamb Weston Holdings, Inc. (NYSE: LW) securities between July 25, 2023 and April 3, 2024. Lamb Weston is a large producer of frozen potato products, which it sells to restaurants and retailers around the world.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Lamb Watson Holdings, Inc. (LW) Misled Investors Regarding its Design and Implementation of its new ERP System
According to the complaint, during the class period, defendants failed to disclose significant problems with the Company's Enterprise Resource Planning software system. On April 4, 2024, the Company revealed that the disastrous rollout of its new ERP system caused the Company to lose $135 million in sales during the third quarter of fiscal 2024, and necessitated a $330 million reduction in its sales guidance for the full fiscal year. On this news, the price of Lamb Weston stock fell by $19.59 per share.
What Now: You may be eligible to participate in the class action against Lamb Weston Holdings, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by August 12, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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| Contact: Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 adumas@robbinsllp.com (800) 350-6003 www.robbinsllp.com | https://www.facebook.com/RobbinsLLP/ https://www.linkedin.com/company/robbins-llp/ |
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