January 6, 2016
Bernstein Liebhard LLP is investigating whether Chipotle Mexican Grill, Inc. (“Chipotle” or the “Company”) (NYSE: CMG) and certain of its officers and/or directors violated the federal securities laws by making materially false or misleading statements or omissions regarding the Company’s business.
Chipotle operates fast-casual, fresh Mexican food restaurants. The Company has recently been hit by reports of E. coli and norovirus outbreaks at numerous restaurants. A norovirus episode in Boston last month allegedly sickened more than 120 college students. There have also reportedly been dozens of cases of Chipotle customers being sickened with E. coli in nine states over the last few months.
The Company disclosed today that in December it was served with a federal subpoena from the U.S. Attorney’s office for the Central District of California, requiring Chipotle to produce a broad range of documents related to a norovirus incident in August at one of its restaurants in Simi Valley, Calif. The subpoena is in conjunction with the U.S. Food and Drug Administration’s Office of Criminal Investigations.
Following this news, Chipotle stock plummeted over 20% in intra-day trading. Chipotle stock is down substantially from a high of approximately $750 per share in mid-October 2015 to intra-day trading today near $425 per share.
If you have lost money in Chipotle, are interested in discussing your rights as a Chipotle shareholder, and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3.5 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.
