Chipotle Mexican Grill, Inc. (NYSE: CMG)

This lawsuit is for anyone who acquired securities in Chipotle Mexican Grill, Inc. (NYSE: CMG) from February 8 2024 through October 29, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company maintained quantity control over its meal portion sizes but lacked such control resulting in erratic portion sizes, ensuing customer complaints, and costly remediation.

On July 24, 2024, Chipotle held its second quarter 2024 earnings call, during which, the Company addressed “the portion concerns that [had] been brought up on social media,” and revealed that the third quarter of 2024 would see a higher cost of sales as a result of giving customers more generous portions. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on October 30, 2024, Business Insider published an article stating that “profit margins for the chain suffered last quarter because of a concerted effort to provide ‘consistent and generous portions’ in every order.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Chipotle Mexican Grill, Inc. (NYSE: CMG) from February 8 2024 through October 29, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.