SOURCE: Johnson & Perkinson

March 06, 2008 15:12 ET

Johnson & Perkinson Announces Commencement of Class Action Litigation Naming Panera Bread Co.

SOUTH BURLINGTON, VT--(Marketwire - March 6, 2008) - Johnson & Perkinson hereby announces the commencement of a class action lawsuit naming Panera Bread Co. ("Panera" or the "Company") (NASDAQ: PNRA). The action, docket numbered 4:08cv-00120, was filed in the United States District Court for the Eastern District of Missouri, St. Louis Division. Individuals, families, trusts or other entities that purchased Panera common stock between November 1, 2005 and July 26, 2006, inclusive, have the opportunity to participate as Lead Plaintiffs in the currently pending class action litigation against the Company. To do so, you must apply to serve in that capacity by March 25, 2008.

Johnson & Perkinson, a litigation boutique law firm based in South Burlington, Vermont, has extensive experience prosecuting investor class actions and actions involving financial fraud. Attorneys Johnson and Perkinson are both former employees of the Securities and Exchange Commission. Dedicated to maximizing shareholder return, members of Johnson & Perkinson have prosecuted complex class actions alleging securities or consumer fraud/deception on behalf of investors/consumers against numerous public companies since 1985, resulting in the recovery of many hundreds of millions of dollars, and have been singled out for excellence by various courts. The firm is litigating, or has recently resolved litigation, as Lead or Co-Lead Counsel in securities class actions against Xerox, Priceline, Wireless Facilities, i2 and Xchange, and serves on the Executive Committee in the Global Crossing case.

The pending Complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company's financial well-being, business relationships, and prospects. Specifically, defendants failed to disclose or indicate the following: (1) that the Company was experiencing fierce competition from similar dining establishments, such that the Company would not be able to maintain growth and earnings trends and projections; (2) that the Company's strategy of rapidly expanding locations was causing a decline in sales per restaurant and a lower return on capital because business was being drawn away from existing stores; (3) that the Company's business was trending negatively because of both slow growth and rising expenses; and (4) that, as a result of the foregoing, the Company's statements about its financial well-being and future business prospects were lacking in any reasonable basis when made.

If you wish to discuss this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Johnson & Perkinson attorneys James F. Conway, III or Eben F. Duval toll free at 1-888-459-7855; via email at email@jpclasslaw.com; through our website at www.jpclasslaw.com; or by mail at Johnson & Perkinson, 1690 Williston Road, P.O. Box 2305, South Burlington, Vermont 05403. Attorneys at Johnson & Perkinson can help you decide if seeking appointment as a Lead Plaintiff is right for you. Your ability to share in any recovery is not affected by your decision to not seek appointment as a Lead Plaintiff.

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