YORK, March 31, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of United Natural Foods, Inc.
To receive updates on the lawsuit, fill out the
The lawsuit seeks to recover losses for shareholders who
purchased United Natural Foods between March
10, 2021 and March 7, 2023.
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 outcomes.
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SOURCE Jakubowitz Law