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Aug. 24, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Chipotle Mexican Grill, Inc. ("Chipotle" or the "Company") (NYSE: CMG).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Chipotle lacked the ability to implement price increases sufficient to offset rising food costs and, as a result, the Company's profit margins would diminish as Chipotle would be unable to pass increased commodity costs off to consumers; (2) demand for Chipotle was slowing down due to negative economic conditions combined with increased competition, and would fail to support the Company's aggressive 2012 earnings forecasts; and (3) Chipotle was experiencing a deceleration of growth as it was becoming a mature company.
July 19, 2012, Chipotle issued a press release announcing the Company's second quarter 2012 financial results. The Company also disclosed disappointing revenue figures and issued cautious guidance for the rest of the year. As a result of this news, Chipotle's share price plunged by
$86.88 per share to close at
$316.98 per share on
July 20, 2012, a decline of 22% on volume of 9.8 million shares. This was the largest one-day stock decline in the Company's history.
Request more information now by clicking here: www.faruqilaw.com/CMG. There is no cost or obligation to you.Take Action
If you purchased Chipotle securities between
February 1, 2012 and
July 19, 2012 and would like to discuss your legal rights, visit
www.faruqilaw.com/CMG. You can also contact us by calling
Richard Gonnello or
Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to
email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Chipotle's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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