SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

August 23, 2012 14:22 ET

Denver-Based Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased Chipotle Mexican Grill, Inc. Common Stock Between 2/1/12 and 7/19/12; Announces Investor Deadline (CMG)

DENVER, CO--(Marketwire - Aug 23, 2012) - The Denver, Colorado law firm of Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the District of Colorado on behalf of all persons who purchased or otherwise acquired the common stock of Chipotle Mexican Grill, Inc. (NYSE: CMG) between February 1, 2012 and July 19, 2012, inclusive (the "Class Period").

What actions may I take at this time? If you purchased or acquired shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment no later than October 16, 2012. A "lead plaintiff" works with counsel to direct the litigation and participates in important decisions, including the amount of compensation to accept in settlement of the class action. Members of the putative class may seek appointment through counsel of their choice, or may choose to do nothing and remain absent class members.

If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com

What are the allegations in the complaint? Chipotle develops and operates "fast-casual," fresh Mexican food restaurants in the United States, Canada, the United Kingdom and France. The company is headquartered in Denver, Colorado.

The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the company's business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts during the Class Period: (a) Chipotle did not have the pricing power to implement price increases sufficient to offset rising food costs and, as a result, the company's margins would be under pressure as Chipotle would be unable to pass these commodity costs off to the consumers; (b) demand for Chipotle was slowing due to the economy and increased competition and could not support the company's aggressive 2012 earnings forecasts; and (c) Chipotle was experiencing a deceleration of growth as it was becoming a mature company. Based upon the foregoing, the complaint charges certain company officers and directors with violations of the Securities Exchange Act of 1934. 

About Dyer & Berens LLP. The plaintiff is represented by Dyer & Berens LLP. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. 

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302
    Email: Email Contact
    Website: www.DyerBerens.com