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SAN FRANCISCO, Jan. 23, 2017 -- Hagens Berman Sobol Shapiro LLP alerts investors in Dollar General Corporation (NYSE:DG) to the securities class action lawsuit filed in the U.S. District Court for the Middle District of Tennessee, the March 20, 2017 Lead Plaintiff deadline, and Hagens Berman’s ongoing investigation.
If you purchased or otherwise acquired securities of DG between March 10, 2016 and November 30, 2016 and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/DG
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On March 10, 2016, DG Chief Executive Officer Todd J. Visos explained to an analyst that the federal food stamp benefits program (also known as “SNAP”) accounts for “approximately 5% of our sales. So it really has – it’s not a huge piece of the business.”
Nonetheless, on December 1, 2016 DG surprised investors when it reported disappointing fiscal third quarter 2016 results and attributed the surprise in part to SNAP revenues affecting “about 56% of our store base.”
This news drove the price of DG shares down nearly 5% to close at $73.48 per share that day.
“Our investigation into this matter includes the truth of the CEO’s statement that SNAP revenues were not a huge piece of the business,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding DG should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
