Grocery Outlet Holding Corp.

The suit alleges that throughout the Class Period, Grocery Outlet 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, Grocery Outlet failed to disclose to investors: (1) the Company had "expanded too quickly" into new stores; (2) the Company's purportedly strong financial and operational growth was being artificially supported by excessive rapid store expansion; (3) as a result, the Company was unable to achieve the sustainable growth required to meet its previously set guidance; (4) the Company's Restructuring Plan would require further Optimization to achieve its operational goals, including significant store closures and asset write-downs; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.