Class Action Lawsuits Filed Against Starbucks and Others in New York

On September 14, 2024, Bragar Eagel & Squire, P.C., a law firm specializing in shareholder rights, announced the initiation of class action lawsuits against several companies, including Starbucks Corporation, Sage Therapeutics, Outset Medical, and Super Micro Computer. The lawsuits were prompted by disappointing financial results disclosed by Starbucks, which reported a 4% decline in global store sales and a 7% drop in customer traffic for Q2 Fiscal 2024. The company attributed these results to challenges in the Chinese market, including a slower-than-expected recovery and increased competition. The lawsuits also involve Sage Therapeutics, which is accused of making misleading statements regarding its business operations from April 12, 2021, to July 23, 2024. Investors are concerned about the company's prospects following these allegations, with a lead plaintiff deadline set for October 28, 2024. Similarly, Outset Medical faces scrutiny for its Tablo products, which were marketed for unapproved uses, potentially impacting revenue growth and leading to misleading statements about the company's performance. Super Micro Computer is also under investigation following a report from Hindenburg Research that revealed significant issues within the company. The stock price of Super Micro fell dramatically after the report was released, highlighting the immediate impact of such revelations on investor confidence. The class action lawsuits aim to address the financial damages suffered by investors due to these companies' alleged misrepresentations. As these legal proceedings unfold, affected investors are encouraged to contact Bragar Eagel & Squire for more information. The outcomes of these lawsuits could have significant implications for the companies involved and their shareholders, as they navigate the challenges posed by market conditions and regulatory scrutiny.