NEW YORK, Jan. 18, 2024 /PRNewswire/ — Attention Dollar General Corporation (“Dollar General”) (NYSE: DG) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of all purchasers of Dollar General common stock between May 28, 2020 and August 30, 2023, inclusive.
If you suffered a loss on your investment in Dollar General, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/dollar-class-action-submission-form/?prid=63863&wire=4
ABOUT THE ACTION: The class action against Dollar General includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (a) Dollar General stores were chronically understaffed and suffering from logistical and inventory management problems that left stores with tens of millions of dollars’ worth of outdated and unwanted inventory, mispriced goods, and lost and damaged items; (b) large backlogs of unsellable merchandise had built up at Dollar General’s stores, which inventory had not been timely written down due to understaffing and the Company’s failure to manage its inventory; (c) the allotment of employee hours per store per week imposed by Dollar General management placed employees in virtually impossible situations where assigned tasks, including those necessary for effective store operations, could not be completed within the allotted time; (d) in violation of state laws, including state law violations identified by state regulators in Arizona, Louisiana, Mississippi, Missouri, North Carolina, and Ohio, Dollar General was systematically overcharging customers for items upon checkout; (e) Dollar General’s reported revenue and earnings during the class period were artificially inflated by defendants’ over-pricing scheme; (f) Dollar General’s failure to manage store inventories and accurately price items upon checkout risked the loss of customers, lower sales, adverse regulatory actions, and reputational fallout; (g) Dollar General was not on track to achieve the 4Q22 guidance provided to investors of 6% to 7% same-store sales growth or quarterly diluted EPS of $3.15 to $3.30 and was running more than one hundred million dollars behind the Company’s annual net sales guidance of 11% growth; and (h) as a result of (a)-(g) above, defendants’ statements about Dollar General’s business metrics, operations, and financial prospects were materially false and misleading and/or lacked a reasonable factual basis when made.
DEADLINE: January 26, 2024
Aggrieved Dollar General investors only have until January 26, 2024 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: [email protected]
SOURCE The Law Offices of Vincent Wong
