Case Summary:
Chipotle
NYSE
CMG
Date Filed
07/20/2017
Lead Plaintiff Deadline
09/18/2017
Class Period
2/5/16 - 7/19/17
This is an abbreviated version of Battea’s Chipotle securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.
Case Summary
Securities class action on behalf of a class consisting of all persons other than defendants who purchased or otherwise acquired Chipotle securities between February 5, 2016 and July 19, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934.
Preliminary Allegations
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) Chipotle’s purported improvements in its restaurants’ food saftey policies were inadequate; (ii) accordingly, Chipotle’s quality controls were still not in compliance with applicable consumer and workplace safety regulations; (iii) in turn, Chipotle’s quality controls remained inadequate to safeguard consumer and employee health; and (iv) as a result of the foregoing, Chipotle’s public statements were materially false and misleading.
Brief Company Profile
Chipotle Mexican Grill, Inc., together with its subsidiaries, develops and operates fast-casual and fresh Mexican food restaurants. The company was founded in 1993 and is based in Denver, Colorado.
Court: District of Colorado
Docket: 17-cv-01760
Judge: Scott T. Varholak, presiding
Plaintiff(s): Elizabeth Kelley
Defendant(s): CHIPOTLE MEXICAN GRILL, INC., M. STEVEN ELLS, MONTGOMERY F. MORAN, JOHN R. HARTUNG
