United Natural Foods (UNFI) Misleading Case

Both parties are exchanging evidence and gathering information for the case.

S.D. New York

Court

1:23-cv-02364

Case number

12/08/2021

Class period Start

09/25/2023

Class period End

#UnitedNaturalFoods reduced its outlook for 2023 and pulled its 2024 forecast.
$UNFI price fell 28.05%, seriously damaging investors.
Investors suspect #UNF could mislead them by not providing duly and timely information.

On March 8, 2023, United Natural Foods (UNFI) reported its financial results missing consensus estimates. $UNF reduced its outlook for 2023 and pulled its forecast for fiscal 2024.

The Company stated that "profits were challenged as we did not repeat the significant level of procurement gains from rapidly accelerating inflation and inventory gains, due to supply chain volatility, that we experienced in the second quarter of last year."

On this news, the $UNFI price fell 28.05%, seriously damaging investors.

Taking all representations and appeared facts into account, Investors may have reasons to suspect the Company and its Leaders could mislead shareholders by not providing duly and timely information.

Case Status

Case Discovery

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

03/08/2023

Filing date

03/20/2023