The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased United Natural Foods, Inc. (NYSE: UNFI) securities between March 10, 2021 and March 7, 2023.
According to the United Natural Foods lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) despite its cost-saving Value Path initiative, United Natural Foods had not invested in improving its data management and related infrastructure; (2) as a result, the Company could not respond adequately to cost changes, such as inflationary pressure; (3) as a result, the Company could not appreciate the benefits of procurement gains and inventory gains achieved during fiscal 2022; (4) as a result of the foregoing, the Company’s profitability would be materially adversely impacted; and (5) as a result of the foregoing, defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in United Natural Foods you have until May 19, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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