NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Restaurant Brands International Inc. (NYSE: QSR) pursuant and/or traceable to the Company’s secondary public offerings conducted in August and September 2019 (the “SPOs” or “Offerings”). The lawsuit seeks to recover damages for Restaurant Brands investors under the federal securities laws.
To join the Restaurant Brands class action, go to http://www.rosenlegal.com/cases-register-1977.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
According to the lawsuit, the Shelf Registration Statements of the SPOs featured false and/or misleading statements and/or failed to disclose that: (1) Contrary to the Shelf Registration Statement’s claim that the Company had “three thriving, independent brands with significant global growth potential,” the Tim Hortons brand was not positioned for growth; (2) the Tims Rewards and its significant discounting was not increasing profitability as evidenced by weekly sales data because, as would later be admitted, the program could not be supported by existing customer traffic and instead negatively affected sales; (3) product offerings were not driving growth or expanding the Company’s customer base and as a result, as the Company would later admit, the Company’s product offerings resulted in a gap in sales of its sandwiches and wraps; (4) despite its purported “steps to address this part of the menu,” the Company was reporting weak year-over-year sales comparisons based on its product offerings and was unable to compete effectively; (5) the discounting associated with Tims Rewards was not sustainable, as customer traffic was not offsetting the program’s discounts; (6) the Company was not realizing the purported benefit of the loyalty program as evidenced by weekly sales reports; (7) the Company’s product offerings were similarly not increasing customer traffic, especially as compared to its competitors; and (8) as a result of the negative effect on Tim Horton’s sales, the Company was not “maintain[ing] its competitive position.” When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1977.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.