Enhanced Investments - Financial Portal

Dollar General Investors: January 26, 2024 Filing Deadline in Securities Class Action - Contact Lieff Cabraser

Published: 2024-01-08 14:40:00 ET

SAN FRANCISCO, CA / ACCESSWIRE / January 8, 2024 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in Dollar General Corporation ("Dollar General" or the "Company") (NYSE:DG) who suffered losses from purchasing or otherwise acquiring the securities of Dollar General between May 28, 2020 and August 31, 2023to contact us immediately regarding a pending securities fraud class action against Dollar General. The deadline to apply to be lead plaintiff is January 26, 2024.

Class Period:May 28, 2020 - August 31, 2023

Lead Plaintiff Motion Deadline:January 26, 2024

Case information:lieffcabraser.com/securities/dg

Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358

Dollar General is a discount retailer that sells consumer goods throughout the United States.

The action alleges Dollar General made false and/or misleading statements and/or failed to disclose that its stores were chronically understaffed, experienced widespread logistical and inventory management problems, and systematically overcharged customers for items above the listed price. These practices exposed the Company to regulatory scrutiny and reputational harm, and unlawfully boosted the Company's reported revenue and profits in an unsustainable fashion. Defendant executives took advantage of the artificial inflation in Dollar General's stock price caused by the fraudulent scheme and sold hundreds of millions of dollars of their personal Dollar General stock.

On February 23, 2023, Dollar General announced disappointing preliminary fourth quarter and fiscal year 2022 ("4Q22" and "FY22," respectively) sales and earnings well below its previously issued guidance. On this news, Dollar General's stock price fell $8.16 per share, or 3.62%, from its closing price of $225.27 per share on February 22, 2023, to close at $217.11 per share on February 23, 2023, on unusually high trading volume.

On March 16, 2023, the Company reported disappointing 4Q22 and FY22 financial results, including net sales well below its previously issued guidance. The Company noted a "decrease in customer traffic" and attributed the sales miss on store closures. On this news, Dollar General's stock price declined $6.47 per share, or 2.96%, from its closing price of $218.56 per share on March 15, 2023, to close at $212.09 per share on March 16, 2023 on elevated trading volume.

On June 1, 2023, Dollar General reported disappointing fiscal first quarter 2023 ("1Q23") results, including quarterly revenue $130 million below analysts' estimates. The Company also lowered its earnings and sales forecast for fiscal year 2023 ("FY23"). The Company projected earnings per share to fall by up to 8% year-over-year instead of grow by 4% to 6%, as defendants previously claimed. On this news, the Company's stock price dropped by $39.23 per share, or 19.51%, from its closing price of $201.09 per share on May 31, 2023 to close at $161.86 per share on June 1, 2023 on extremely high trading volume.

On August 31, 2023, Dollar General again reported disappointing sales and earnings for its second quarter 2023 ("2Q23"), and lowered its FY23 sales and profit outlook again. In an earnings press release, Dollar General's Chief Executive Officer acknowledged that the Company had been undergoing problems with logistics, store management, staffing, and pricing. On this news, Dollar General's stock price fell $19.16 per share, or 12.15%, from its closing price of $157.66 per share on August 30, 2023, to close at $138.50 per share on August 31, 2023 on extremely high trading volume.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with over 120 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a "Plaintiffs' Powerhouse" by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.

Source/Contact

Sharon LeeLieff Cabraser Heimann & Bernstein, LLP415 956-1000slee@lchb.com

SOURCE:Lieff Cabraser Heimann & Bernstein

View the original press release on accesswire.com

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.