Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
UNFI.US
id: 618
United Natural Foods (UNFI) Misleading Case
Both parties are exchanging evidence and gathering information for the case.
S.D. New York
Court1:23-cv-02364
Case number12/08/2021
Class period Start09/25/2023
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