LEGAL GUIDES FOR INVESTORS
If you suffered losses in Dollar General stock, contact Dollar General stock loss lawyer Timothy L. Miles about a Dollar General lawsuit
INTRODUCTION TO THE DOLLAR GENERAL CLASS ACTION LAWSUIT
The Dollar General class action lawsuit seeks to represent purchasers of Dollar General common stock between May 28, 2020 and August 31, 2023, inclusive (the “Class Period”). Captioned Washtenaw County Employees’ Retirement System v. Dollar General Corporation, No. 23-cv-01250 (M.D. Tenn.)., the Dollar General class action lawsuit charges Dollar General and certain of its current and former top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Dollar General stock and wish to serve as lead plaintiff in the Dollar General class action lawsuit, please contact Dollar General Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Dollar General class action lawsuit must be filed with the court no later than January 26, 2024.
Read on as we summarize everything a Dollar General investor needs to know about the Dollar General class action lawsuit.
WHAT ARE THE ALLEGATIONS IN THE DOLLAR GENERAL CLASS ACTION LAWSUIT?
The Dollar General class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Dollar General stores were chronically understaffed and suffering from logistical and inventory management problems which left stores with tens of millions of dollars’ worth of outdated and unwanted inventory, mispriced goods, and lost and damaged items; (ii) large backlogs of unsellable merchandise had built up at Dollar General’s stores, which inventory had not been timely written down due to understaffing and Dollar General’s failure to manage its inventory; (iii) the allotment of employee hours per store per week imposed by Dollar General management placed employees in virtually impossible situations where assigned tasks, including those necessary to effective store operations, could not be completed within the allotted time; (iv) Dollar General was systematically overcharging customers for items upon checkout above the listed price in violation of state laws, including state law violations identified by state regulators in Arizona, Louisiana, Mississippi, Missouri, North Carolina, and Ohio; (v) Dollar General’s reported revenue and earnings during the Class Period were artificially inflated by defendants’ over-pricing scheme; (vi) Dollar General’s failure to manage store inventories and accurately price items upon checkout risked the loss of customers, lower sales, adverse regulatory actions, and reputational fallout; and (vii) Dollar General was not on track to achieve its guidance during the Class Period and such guidance lacked a reasonable factual basis.
On February 23, 2023, Dollar General announced that fourth quarter of 2022 sales and earnings would come in materially below what Dollar General had led investors to expect as recently as December 2022. On this news, the price of Dollar General common stock fell.
Then, on March 16, 2023, Dollar General revealed, among other things, that it missed its prior annual net sales guidance by approximately $140 million. On this news, the price of Dollar General common stock fell nearly 3%.
Thereafter, on June 1, 2023, Dollar General reported first quarter of 2023 revenue of $130 million below analysts’ estimates. Dollar General also slashed its full year 2023 financial forecast and that it further only expected full year 2023 net sales growth in the range of 3.5% to 5%, down 26% at the midpoint from the prior 5.5% to 6% range provided in March 2023. On this news, the price of Dollar General common stock fell nearly 20%.
Finally, on August 31, 2023, Dollar General reported lower than expected second quarter of 2023 financial results and again slashed its sales and profit outlook for full year 2023. Dollar General blamed weaker consumer spending on non-essential purchases and increasing theft for the shortfall. On this news, the Dollar General class action lawsuit alleges the price of Dollar General common stock fell more than 12%.
WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE DOLLAR GENERAL CLASS ACTION LAWSUIT?
When a securities class action is filed such as the Dollar General class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Dollar General class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.
WHAT IS THE LEAD PLAINTIFF PROCESS IN THE DOLLAR GENERAL CLASS ACTION LAWSUIT?
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Dollar General stock to seek appointment as lead plaintiff in the Dollar General class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Dollar General stock and have further questions, contact Dollar General stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a Dollar General class action lawsuit if you suffered losses in Dollar General stock.
WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE DOLLAR GENERAL CLASS ACTION LAWSUIT?
Serving as a Lead Plaintiff in the Dollar General class action lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Dollar General if you suffered significant losses in Dollar General stock.
WHAT RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE DOLLAR GENERAL CLASS ACTION LAWSUIT?
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Dollar General class action lawsuit. Some of the responsibilities of the Lead Plaintiff in the Dollar General class action lawsuit include:
CAN I BE LEAD PLAINTIFF IN THE DOLLAR GENERAL CLASS ACTION LAWSUIT IF I AM LEAD PLAINTIFF IN ANOTHER CASE?
Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in Dollar General stock, you may move to be appointed lead plaintiff in the Dollar General class action Lawsuit.
HOW WAS THE CLASS PERIOD DETERMINED IN THE DOLLAR GENERAL LAWSUIT?
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
To be a part of the class in the Dollar General lawsuit, you must have suffered losses in Dollar General stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Dollar General.
HOW DO I KNOW IF I AM A MEMBER OF THE CLASS IN THE DOLLAR GENERAL LAWSUIT?
If you purchased shares during the class period and suffered losses in Dollar General stock, then you are most likely a member of the class in the Dollar General lawsuit and may participate in the Dollar General class action lawsuit since you suffered losses in Dollar General stock.
IF I SUFFERED LOSSES IN DOLLAR GENERAL STOCK, WHEN CAN I EXPECT TO RECEIVE MY PAYMENT IF THE DOLLAR GENERAL CLASS ACTION LAWSUIT SETTLES?
If there is a settlement in the Dollar General class action lawsuit you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold Dollar General stock during the class period and suffered losses in Dollar General stock.
The court will hold a final hearing in the Dollar General class action lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the Dollar General lawsuit.
WHAT IS THE DIFFERENCE BETWEEN OBJECTING AND EXCLUDING MYSELF IN THE DOLLAR GENERAL CLASS ACTION LAWSUIT?
Objecting is telling the Court you do not believe the settlement in the Dollar General class action lawsuit, or some part of it, is fair or reasonable. You can file an objection only if you stay in the Class and do not exclude yourself, and you may submit a Claim Form even if you object to the settlement. On the other hand, requesting exclusion is explicitly telling the Court you do not want to be part of the Class or the Settlement in the class action against Dollar General. If you exclude yourself, you cannot object to the Settlement because you no longer have standing as you are not a class member anymore. Similarly, you cannot submit a Claim Form. If you stay in the Class and object, but your objection is overruled, you will not be allowed a second opportunity to exclude yourself.
CONTACT A DOLLAR GENERAL STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN DOLLAR GENERAL STOCK ABOUT A DOLLAR GENERAL CLASS ACTION LAWSUIT
If you suffered losses in Dollar General stock, contact Dollar General stock loss lawyer Timothy L. Miles today for a free case evaluation about a Dollar General class action lawsuit. Call today and see what a Dollar General stock loss lawyer could do for you if you suffered losses in Dollar General stock.
Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Milesâ€™ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-HubbellÂ® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-HubbellÂ®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,â€‹Class Action: Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-HubbellÂ® and ALM (2019-2022); Americaâ€™s Most Honored Lawyers 2020 â€“ Top 1% by Americaâ€™s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]
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