VNET - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Dollar General Estee and VNET and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Dollar General Corporation (NYSE:DG), Estee Lauder Companies Inc. (NYSE:EL), and VNET Group, Inc. (NASDAQ:VNET). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Dollar General Corporation (NYSE:DG)
Class Period: May 28, 2020 - August 31, 2023 (Common Stock Only)
Lead Plaintiff Deadline: January 26, 2024
The Dollar General class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Dollar General stores were chronically understaffed and suffering from logistical and inventory management problems which left stores with tens of millions of dollars' worth of outdated and unwanted inventory, mispriced goods, and lost and damaged items; (ii) large backlogs of unsellable merchandise had built up at Dollar General's stores, which inventory had not been timely written down due to understaffing and Dollar General's failure to manage its inventory; (iii) the allotment of employee hours per store per week imposed by Dollar General management placed employees in virtually impossible situations where assigned tasks, including those necessary to effective store operations, could not be completed within the allotted time; (iv) Dollar General was systematically overcharging customers for items upon checkout above the listed price in violation of state laws, including state law violations identified by state regulators in Arizona, Louisiana, Mississippi, Missouri, North Carolina, and Ohio; (v) Dollar General's reported revenue and earnings during the Class Period were artificially inflated by defendants' over-pricing scheme; (vi) Dollar General's failure to manage store inventories and accurately price items upon checkout risked the loss of customers, lower sales, adverse regulatory actions, and reputational fallout; and (vii) Dollar General was not on track to achieve its guidance during the Class Period and such guidance lacked a reasonable factual basis.
On February 23, 2023, Dollar General announced that fourth quarter of 2022 sales and earnings would come in materially below what Dollar General had led investors to expect as recently as December 2022. ...