NEW YORK, NY - 
(NewMediaWire) - September 28, 2024 - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Domino’s Pizza Inc. (“Domino’s” or the “Company”) (NYSE: DPZ) securities between December 7, 2023 and July 17, 2024 (the “Class Period”).
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than November 19, 2024 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process.
On April 29, 2024, Domino’s issued a press release reporting first quarter results in which it reiterated it prior guidance of “1100+ Annual global net store growth,” which included international net store growth of 925 stores.
Then, on July 18, 2024, the Company issued a press release reporting second quarter results in which it suspended its prior net store guidance and said that Global net store growth is expected to be only 825 to 925 in 2024. The Company explained that new store growth “will fall 175 to 275 stores below its 2024 goal of 925+ net stores in international primarily as a result of challenges in both openings and closures being faced by Domino’s Pizza Enterprises (“DPE”), one of its master franchisees.”
Following this news, Domino’s stock price dropped over $64 per share, more than 13% on July 18, 2024, closing at $409.04.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) DPE, the Company’s largest master franchisee, was experiencing significant challenges with respect to both new store openings and closures of existing stores; and (ii) as a result, Domino’s was unlikely to meet its own previously issued long-term guidance for annual global net store growth.
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CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
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(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
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Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
