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Lamb Weston Holdings, Inc.

Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired Lamb Weston Holdings, Inc. (“Lamb Weston” or the “Company”) (NYSE: LW) common stock between July 25, 2023 and April 3, 2024, inclusive. The lawsuit seeks to recover Lamb Weston shareholders’ investment losses.

If you purchased common stock in Lamb Weston between July 25, 2023 and April 3, 2024, inclusive, and would like to discuss your legal rights and/or options, please click “Join Class Action” above.

On July 25, 2023, Lamb Weston announced the completion of the design of a new Enterprise Resource Planning (“ERP”) software system that the Company would work to implement across its operations.  The system would interface with the most important aspects of Lamb Weston’s business and operations, including, among other things, inventories and customer order shipments.  According to the Company, the ERP system would drive efficiency through increased automation.

According to the Complaint, Defendants made numerous material misrepresentations and omissions regarding the design and implementation of Lamb Weston’s new ERP system. Specifically, throughout the Class Period, Defendants represented that, through the design of the Company’s new ERP system, Lamb Weston had “strengthen[ed] [its] operational infrastructure.” The Company also downplayed any issues it experienced with the implementation of the system as merely “usual bumps,” and told investors that its financial guidance for fiscal 2024 appropriately accounted for any negative financial impact associated with the system’s deployment.

The truth emerged on April 4, 2024, when Lamb Weston disclosed that it experienced significant challenges in its transition to the new ERP system. The disastrous roll-out caused the Company to lose $135 million in sales during the third quarter of fiscal 2024, and necessitated a $330 million reduction to its sales guidance for the full fiscal year.

On this news, Lamb Weston’s stock price fell $19.59 per share, or over 19%, to close at $81.53 per share on April 4, 2024.

If you wish to serve as lead plaintiff, you must move the Court no later than August 12, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.

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Contact Information:

Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
(212) 951-2030