An investor has filed a class action lawsuit against Domino’s Pizza, claiming the restaurant chain “overstated” its business and financial prospects.
Law firm Bernstein Lierbhard LLP said in a press release that the lawsuit was filed for investors who acquired or purchased Domino’s securities between December 2023 and July 2024. The complaint, filed on September 20 in Michigan, also listed Domino’s CEO Russel J. Weiner and CFO Sandeep Reddy as defendants. It’s centered on Domino’s Pizza Enterprises, the largest franchisee for the brand globally.
“The lawsuit seeks to recover Domino’s shareholders’ investment losses,” the law firm’s statement said.
The complaint says Domino’s made “materially false and misleading statements regarding the Company’s business, operations, and prospects.”
Specifically, the company’s annual global net store growth.
The complaint says Domino’s hosted its 2023 Investor Day that December, during which it discussed the long-term guidance for the annual global …