Oct 17, 2024, 3:03 PM
Oct 14, 2024, 11:30 AM

SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Starbucks - Starbucks (NASDAQ:SBUX)

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Highlights
  • Faruqi & Faruqi, LLP is investigating claims against Starbucks Corporation due to disappointing Q2 Fiscal 2024 results.
  • The company's stock price fell over 15% following the announcement of a decline in global store sales and traffic.
  • Investors are encouraged to contact the firm for legal options before the October 28, 2024 deadline for the class action.
Story

In the United States, Faruqi & Faruqi, LLP is investigating potential claims against Starbucks Corporation following disappointing financial results announced on April 30, 2024. The company reported a 4% decline in global store sales and a 7% drop in customer traffic, leading to a significant stock price decrease of over 15% in just one day. The firm is encouraging investors who suffered losses exceeding $100,000 during the specified period to contact them for legal options. A federal securities class action has been filed, with an October 28, 2024 deadline for investors to seek the role of lead plaintiff. The investigation stems from concerns regarding the accuracy of Starbucks' public statements and the impact of market conditions, particularly in China, on the company's performance. The CFO highlighted fierce competition and a slower-than-expected recovery in the Chinese market as contributing factors to the disappointing results. Investors are urged to share any relevant information regarding the company's conduct, as the firm seeks to represent those affected by the stock's decline.

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