2023 /PRNewswire/ -- Jakubowitz Law announces that a
securities fraud class action lawsuit has commenced on behalf of
shareholders of United Natural Foods, Inc. (NYSE: UNFI).
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The lawsuit seeks to recover losses for
shareholders who purchased United Natural Foods between
March 10, 2021 and March 7,
Shareholders interested in acting as a lead
plaintiff representing the class of wronged shareholders have until
May 19, 2023 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, United Natural
Foods, Inc. issued materially false and/or misleading statements
and/or failed to disclose that: (1) despite its cost-saving Value
Path initiative, United Natural Foods had not invested in improving
its data management and related infrastructure; (2) as a result,
the Company could not respond adequately to cost changes, such as
inflationary pressure; (3) as a result, the Company could not
appreciate the benefits of procurement gains and inventory gains
achieved during fiscal 2022; (4) as a result of the foregoing, the
Company's profitability would be materially adversely impacted; and
(5) as a result of the foregoing, defendant's positive statements
about the Company's business, operations, and prospects were
materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice
for shareholders who have been the victim of securities fraud.
Attorney advertising. Prior results do not guarantee similar
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SOURCE Jakubowitz Law